ValuEngine Upgrades Avis Budget Group (CAR) to “Buy”

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.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.11. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the previous year, the firm earned $2.47 EPS. Avis Budget Group’s quarterly revenue was up 3.6% compared to the same quarter last year. research analysts anticipate that Avis Budget Group will post 2.65 earnings per share for the current fiscal year.

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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