Avis Budget Group (CAR) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Avis Budget Group (NASDAQ:CAR) from a strong sell rating to a sell rating in a research note published on Friday morning.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Avis Budget Group from a sell rating to a hold rating in a research report on Tuesday, February 12th. Deutsche Bank set a $45.00 target price on Avis Budget Group and gave the company a buy rating in a research report on Tuesday, November 6th. BidaskClub downgraded Avis Budget Group from a buy rating to a hold rating in a research report on Wednesday, December 12th. Finally, Goldman Sachs Group raised Avis Budget Group from a sell rating to a buy rating and upped their target price for the company from $30.00 to $35.00 in a research report on Monday, February 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Avis Budget Group has an average rating of Hold and a consensus target price of $41.83.

NASDAQ:CAR opened at $35.33 on Friday. The company has a debt-to-equity ratio of 27.75, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.68 and a beta of 1.94. Avis Budget Group has a 12-month low of $21.63 and a 12-month high of $50.88.

Avis Budget Group (NASDAQ:CAR) last posted its earnings results on Wednesday, February 20th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.31 by $0.22. Avis Budget Group had a return on equity of 64.99% and a net margin of 1.81%. The company 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 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts predict that Avis Budget Group will post 3.71 EPS for the current fiscal year.

In related news, SVP David T. Calabria sold 1,700 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $29.29, for a total transaction of $49,793.00. Following the sale, the senior vice president now owns 7,661 shares of the company’s stock, valued at $224,390.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

A number of large investors have recently modified their holdings of CAR. Bank of New York Mellon Corp grew its position in Avis Budget Group by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 4,436,114 shares of the business services provider’s stock worth $144,174,000 after buying an additional 396,831 shares in the last quarter. First Hawaiian Bank acquired a new stake in Avis Budget Group during the third quarter worth approximately $454,000. First Quadrant L P CA bought a new stake in Avis Budget Group during the third quarter worth $346,000. First Trust Advisors LP lifted its stake in Avis Budget Group by 173.3% during the third quarter. First Trust Advisors LP now owns 48,565 shares of the business services provider’s stock worth $1,561,000 after purchasing an additional 30,796 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in Avis Budget Group by 75.8% during the third quarter. Alps Advisors Inc. now owns 23,199 shares of the business services provider’s stock worth $746,000 after purchasing an additional 10,005 shares during 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 5,450 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 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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