Avis Budget Group, Inc. (NASDAQ:CAR) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday. They currently have a $38.00 price objective on the stock. Credit Suisse Group’s price target would indicate a potential upside of 12.56% from the company’s previous close.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Avis Budget Group from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. MKM Partners set a $47.00 price target on Avis Budget Group and gave the stock a “buy” rating in a report on Thursday, December 15th. TheStreet raised Avis Budget Group from a “hold” rating to a “buy” rating in a report on Monday, November 28th. Morgan Stanley raised their price target on Avis Budget Group from $20.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, November 18th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Avis Budget Group in a report on Monday, October 24th. They issued a “neutral” rating and a $30.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Avis Budget Group has an average rating of “Hold” and an average price target of $36.16.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Avis Budget Group (NASDAQ:CAR) traded down 5.59% during mid-day trading on Friday, reaching $33.76. The company’s stock had a trading volume of 6,249,737 shares. Avis Budget Group has a 52 week low of $21.73 and a 52 week high of $41.53. The firm has a market capitalization of $2.97 billion, a P/E ratio of 19.29 and a beta of 2.03. The firm’s 50 day moving average price is $37.21 and its 200 day moving average price is $36.56.

Avis Budget Group (NASDAQ:CAR) last released its earnings results on Wednesday, February 15th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by $0.02. Avis Budget Group had a return on equity of 68.51% and a net margin of 2.18%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.96 billion. On average, analysts anticipate that Avis Budget Group will post $3.45 EPS for the current fiscal year.

“Avis Budget Group, Inc. (CAR) Rating Lowered to Neutral at Credit Suisse Group” was posted by Daily Political and is the property of of Daily Political. If you are reading this report on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this report can be accessed at http://www.dailypolitical.com/2017/02/17/credit-suisse-group-downgrades-avis-budget-group-inc-car-to-neutral.html.

In related news, EVP Michael K. Tucker sold 2,439 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $39.05, for a total value of $95,242.95. Following the sale, the executive vice president now directly owns 58,210 shares in the company, valued at approximately $2,273,100.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ronald L. Nelson sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $39.00, for a total value of $5,850,000.00. Following the completion of the sale, the insider now owns 737,974 shares in the company, valued at $28,780,986. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in Avis Budget Group during the third quarter valued at approximately $100,000. LS Investment Advisors LLC acquired a new stake in Avis Budget Group during the third quarter valued at approximately $220,000. Weiss Asset Management LP acquired a new stake in Avis Budget Group during the third quarter valued at approximately $230,000. Calvert Investment Management Inc. boosted its stake in Avis Budget Group by 2.7% in the second quarter. Calvert Investment Management Inc. now owns 7,749 shares of the company’s stock valued at $250,000 after buying an additional 201 shares in the last quarter. Finally, World Asset Management Inc acquired a new stake in Avis Budget Group during the third quarter valued at approximately $258,000.

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.

5 Day Chart for NASDAQ:CAR

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.