Avis Budget Group Inc. (CAR) Given a $47.00 Price Target at MKM Partners
Other research analysts have also issued research reports about the company. Deutsche Bank AG boosted their price target on Avis Budget Group from $44.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, August 4th. Barclays PLC boosted their price target on Avis Budget Group from $31.00 to $33.00 and gave the stock an equal weight rating in a research report on Wednesday, August 10th. Macquarie began coverage on Avis Budget Group in a research report on Thursday, August 25th. They set an outperform rating and a $44.00 price target for the company. Zacks Investment Research lowered Avis Budget Group from a buy rating to a hold rating in a research report on Monday, August 1st. Finally, Credit Suisse Group AG reiterated a buy rating and set a $34.00 price target on shares of Avis Budget Group in a research report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Avis Budget Group currently has a consensus rating of Buy and an average price target of $35.58.
Shares of Avis Budget Group (NASDAQ:CAR) opened at 33.78 on Wednesday. The stock has a market cap of $3.07 billion, a PE ratio of 20.41 and a beta of 2.54. The company’s 50-day moving average price is $36.31 and its 200-day moving average price is $31.65. Avis Budget Group has a 52-week low of $21.73 and a 52-week high of $53.04.
Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.06. Avis Budget Group had a net margin of 1.91% and a return on equity of 58.78%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts expect that Avis Budget Group will post $3.04 earnings per share for the current year.
In other news, Director John D. Jr. Hardy sold 738 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $38.39, for a total transaction of $28,331.82. Following the sale, the director now directly owns 738 shares of the company’s stock, valued at $28,331.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald L. Nelson sold 50,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the sale, the insider now directly owns 893,949 shares in the company, valued at $33,970,062. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.
Several large investors have recently made changes to their positions in CAR. Bank of New York Mellon Corp raised its stake in shares of Avis Budget Group by 768.4% in the second quarter. Bank of New York Mellon Corp now owns 4,079,271 shares of the company’s stock worth $131,475,000 after buying an additional 3,609,536 shares during the period. RS Investment Management Co. LLC bought a new stake in shares of Avis Budget Group during the second quarter worth about $35,980,000. Bank of Montreal Can bought a new stake in shares of Avis Budget Group during the second quarter worth about $24,778,000. Wellington Management Group LLP bought a new stake in shares of Avis Budget Group during the first quarter worth about $19,241,000. Finally, UBS Oconnor LLC bought a new stake in shares of Avis Budget Group during the second quarter worth about $16,464,000.
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 is a rental car supplier and Budget is a rental vehicle supplier. It also owns Payless, which a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia.
Receive News & Ratings for Avis Budget Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avis Budget Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.