CAR has been the subject of several other reports. Northcoast Research reiterated a buy rating on shares of Avis Budget Group in a research note on Tuesday, August 6th. Morgan Stanley set a $32.00 price objective on shares of Avis Budget Group and gave the stock a sell rating in a research report on Friday, August 9th. TheStreet upgraded shares of Avis Budget Group from a c rating to a b- rating in a research report on Monday, August 5th. Finally, ValuEngine downgraded shares of Avis Budget Group from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Avis Budget Group presently has an average rating of Hold and an average target price of $39.00.
NASDAQ:CAR traded down $0.36 during mid-day trading on Thursday, hitting $28.88. The stock had a trading volume of 691,917 shares, compared to its average volume of 1,374,455. Avis Budget Group has a twelve month low of $21.63 and a twelve month high of $37.27. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 7.91 and a beta of 2.11. The company’s 50 day simple moving average is $29.09 and its 200 day simple moving average is $32.87. The company has a debt-to-equity ratio of 46.72, a quick ratio of 0.86 and a current ratio of 0.86.
A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Avis Budget Group by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,648,885 shares of the business services provider’s stock worth $37,072,000 after purchasing an additional 50,078 shares during the period. Geode Capital Management LLC increased its holdings in shares of Avis Budget Group by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 749,363 shares of the business services provider’s stock worth $16,845,000 after purchasing an additional 40,079 shares during the period. Texas Permanent School Fund increased its holdings in shares of Avis Budget Group by 1.6% during the first quarter. Texas Permanent School Fund now owns 43,215 shares of the business services provider’s stock worth $1,506,000 after purchasing an additional 699 shares during the period. Stevens Capital Management LP bought a new position in shares of Avis Budget Group during the first quarter worth approximately $985,000. Finally, Chesapeake Asset Management LLC bought a new position in shares of Avis Budget Group during the first quarter worth approximately $480,000. Hedge funds and other institutional investors own 99.87% of the company’s stock.
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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