Avis Budget Group Inc. (CAR) Receives $39.40 Consensus Target Price from Analysts

Shares of Avis Budget Group Inc. (NASDAQ:CAR) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $39.40.

A number of analysts have recently commented on CAR shares. Zacks Investment Research cut Avis Budget Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Goldman Sachs Group raised Avis Budget Group from a “sell” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $35.00 in a research report on Monday, February 11th. ValuEngine raised Avis Budget Group from a “strong sell” rating to a “sell” rating in a research report on Friday, February 22nd. Deutsche Bank reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Avis Budget Group in a research report on Monday, February 25th. Finally, BidaskClub raised Avis Budget Group from a “hold” rating to a “buy” rating in a research report on Monday, February 25th.

NASDAQ:CAR traded down $0.04 during mid-day trading on Friday, reaching $35.38. 521,627 shares of the company’s stock traded hands, compared to its average volume of 1,754,803. Avis Budget Group has a 12-month low of $21.63 and a 12-month high of $50.11. The company has a market cap of $2.69 billion, a PE ratio of 9.69 and a beta of 1.94. The company has a debt-to-equity ratio of 33.24, a current ratio of 1.27 and a quick ratio of 1.27.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.22. Avis Budget Group had a return on equity of 66.29% and a net margin of 1.81%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Avis Budget Group will post 3.88 EPS for the current fiscal year.

In related news, major shareholder Srs Investment Management, Llc bought 4,189,300 shares of Avis Budget Group stock in a transaction dated Friday, February 22nd. The shares were acquired at an average cost of $35.33 per share, with a total value of $148,007,969.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael K. Tucker sold 4,796 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $35.50, for a total transaction of $170,258.00. Following the transaction, the executive vice president now directly owns 66,906 shares in the company, valued at $2,375,163. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several large investors have recently modified their holdings of CAR. Pzena Investment Management LLC grew its stake in Avis Budget Group by 15.1% during the 4th quarter. Pzena Investment Management LLC now owns 2,967,757 shares of the business services provider’s stock valued at $66,715,000 after acquiring an additional 389,731 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Avis Budget Group by 15.0% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,945,786 shares of the business services provider’s stock valued at $43,741,000 after acquiring an additional 254,367 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Avis Budget Group by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,648,885 shares of the business services provider’s stock valued at $37,072,000 after purchasing an additional 50,078 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Avis Budget Group by 20.4% in the 3rd quarter. Renaissance Technologies LLC now owns 817,200 shares of the business services provider’s stock valued at $26,265,000 after purchasing an additional 138,600 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Avis Budget Group by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 749,363 shares of the business services provider’s stock valued at $16,845,000 after purchasing an additional 40,079 shares during the last quarter.

Avis Budget Group Company Profile

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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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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