John D. Jr. Hardy Sells 779 Shares of Avis Budget Group Inc. (CAR) Stock
Avis Budget Group Inc. (NASDAQ:CAR) Director John D. Jr. Hardy sold 779 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $34.84, for a total transaction of $27,140.36. Following the completion of the sale, the director now owns 779 shares of the company’s stock, valued at $27,140.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Avis Budget Group Inc. (NASDAQ:CAR) opened at 35.93 on Thursday. The company has a 50-day moving average of $33.94 and a 200 day moving average of $33.08. Avis Budget Group Inc. has a 52-week low of $21.73 and a 52-week high of $42.21. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 18.36 and a beta of 2.20.
Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.14. Avis Budget Group had a net margin of 2.18% and a return on equity of 68.51%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business earned $1.98 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Avis Budget Group Inc. will post $2.96 EPS for the current year.
Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Avis Budget Group by 5.9% in the first quarter. State Street Corp now owns 1,537,922 shares of the company’s stock valued at $42,075,000 after buying an additional 85,962 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Avis Budget Group by 21.0% in the first quarter. BlackRock Group LTD now owns 103,411 shares of the company’s stock valued at $2,829,000 after buying an additional 17,968 shares during the last quarter. RS Investment Management Co. LLC acquired a new stake in shares of Avis Budget Group during the second quarter valued at about $35,980,000. Riverhead Capital Management LLC acquired a new stake in shares of Avis Budget Group during the first quarter valued at about $917,000. Finally, Mountain Lake Investment Management LLC raised its stake in shares of Avis Budget Group by 59.6% in the first quarter. Mountain Lake Investment Management LLC now owns 558,500 shares of the company’s stock valued at $15,281,000 after buying an additional 208,500 shares during the last quarter.
A number of equities research analysts recently issued reports on CAR shares. Deutsche Bank AG upped their price objective on shares of Avis Budget Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Credit Suisse Group AG restated a “buy” rating and set a $34.00 price target on shares of Avis Budget Group in a report on Wednesday, August 3rd. MKM Partners set a $47.00 price target on shares of Avis Budget Group and gave the company a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Friday, August 12th. Finally, Barclays PLC upped their price target on shares of Avis Budget Group from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Avis Budget Group has a consensus rating of “Hold” and an average target price of $35.07.
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.
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