Avis Budget Group Inc. (NASDAQ:CAR) insider Mark J. Servodidio sold 38,000 shares of Avis Budget Group stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $37.07, for a total transaction of $1,408,660.00. Following the completion of the transaction, the insider now directly owns 60,711 shares in the company, valued at approximately $2,250,556.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
CAR stock opened at $34.65 on Friday. The company has a market capitalization of $2.65 billion, a P/E ratio of 9.49 and a beta of 1.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 51.70. Avis Budget Group Inc. has a 52 week low of $21.63 and a 52 week high of $45.15.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.78) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.24. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the business posted ($0.74) EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Avis Budget Group Inc. will post 3.94 EPS for the current fiscal year.
CAR has been the subject of a number of recent analyst reports. BidaskClub cut shares of Avis Budget Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research cut shares of Avis Budget Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine upgraded shares of Avis Budget Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $48.00 target price on shares of Avis Budget Group in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $39.67.
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About Avis Budget Group
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,500 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 18,000 vehicles, which are rented through a network of approximately 640 dealer-operated and 430 company-operated locations that serve the consumer and light commercial sectors in the continental United States.
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