Avis Budget Group (NASDAQ:CAR) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Avis Budget Group (NASDAQ:CAR) from a sell rating to a strong sell rating in a research note released on Thursday, ValuEngine reports.

CAR has been the topic of a number of other reports. Zacks Investment Research lowered Avis Budget Group from a strong-buy rating to a hold rating in a report on Tuesday, April 30th. BidaskClub raised Avis Budget Group from a hold rating to a buy rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Avis Budget Group currently has an average rating of Hold and an average target price of $40.50.

CAR opened at $34.74 on Thursday. Avis Budget Group has a 1-year low of $21.63 and a 1-year high of $39.15. The firm has a fifty day simple moving average of $35.16. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 51.70. The company has a market cap of $2.64 billion, a PE ratio of 9.52 and a beta of 2.08.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank boosted its stake in Avis Budget Group by 1.9% in the first quarter. First Hawaiian Bank now owns 16,180 shares of the business services provider’s stock valued at $564,000 after buying an additional 302 shares in the last quarter. World Asset Management Inc boosted its stake in Avis Budget Group by 4.3% in the second quarter. World Asset Management Inc now owns 7,791 shares of the business services provider’s stock valued at $274,000 after buying an additional 319 shares in the last quarter. Arizona State Retirement System boosted its stake in Avis Budget Group by 1.3% in the second quarter. Arizona State Retirement System now owns 46,280 shares of the business services provider’s stock valued at $1,627,000 after buying an additional 578 shares in the last quarter. Texas Permanent School Fund boosted its stake in Avis Budget Group by 1.6% in the first quarter. Texas Permanent School Fund now owns 43,215 shares of the business services provider’s stock valued at $1,506,000 after buying an additional 699 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Avis Budget Group by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock valued at $380,000 after buying an additional 1,006 shares in the last quarter.

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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