Avis Budget Group (NASDAQ:CAR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Monday.
A number of other research firms also recently weighed in on CAR. Barclays upped their price target on Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, October 18th. BidaskClub downgraded Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. MKM Partners upped their price target on Avis Budget Group from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $49.00 price target (up previously from $44.00) on shares of Avis Budget Group in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.70.
Avis Budget Group (CAR) opened at $41.56 on Monday. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. Avis Budget Group has a 12-month low of $20.71 and a 12-month high of $42.40. The stock has a market capitalization of $3,351.31, a P/E ratio of 15.77 and a beta of 2.53.
In other news, SVP David T. Calabria sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $41.71, for a total transaction of $52,137.50. Following the sale, the senior vice president now owns 4,412 shares in the company, valued at approximately $184,024.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Srs Investment Management, Llc acquired 3,500,000 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were bought at an average price of $40.56 per share, for a total transaction of $141,960,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 739,581 shares of company stock valued at $30,037,022. Insiders own 2.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Crow Point Partners LLC bought a new stake in Avis Budget Group in the 3rd quarter valued at $107,000. FNY Managed Accounts LLC bought a new stake in Avis Budget Group in the 3rd quarter valued at $160,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Avis Budget Group by 1,413.3% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 4,240 shares during the period. Deprince Race & Zollo Inc. bought a new stake in Avis Budget Group in the 3rd quarter valued at $202,000. Finally, Brown Advisory Inc. bought a new stake in Avis Budget Group in the 3rd quarter valued at $204,000.
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About Avis Budget Group
Avis Budget Group Inc is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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