Traders Buy Avis Budget Group (CAR) on Weakness
Traders bought shares of Avis Budget Group Inc. (NASDAQ:CAR) on weakness during trading hours on Wednesday. $64.35 million flowed into the stock on the tick-up and $45.55 million flowed out of the stock on the tick-down, for a money net flow of $18.80 million into the stock. Of all stocks tracked, Avis Budget Group had the 13th highest net in-flow for the day. Avis Budget Group traded down ($1.39) for the day and closed at $38.73
CAR has been the subject of several recent research reports. Zacks Investment Research upgraded Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, October 18th. Barclays increased their price objective on Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. BidaskClub lowered Avis Budget Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 3rd. ValuEngine lowered Avis Budget Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Northcoast Research restated a “buy” rating on shares of Avis Budget Group in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Avis Budget Group currently has an average rating of “Buy” and an average price target of $37.30.
The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The company has a market cap of $3,070.00, a price-to-earnings ratio of 28.69 and a beta of 2.45.
Large investors have recently modified their holdings of the company. Crow Point Partners LLC acquired a new stake in shares of Avis Budget Group in the third quarter valued at about $107,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at about $171,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Avis Budget Group by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 1,242 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in shares of Avis Budget Group in the fourth quarter valued at about $181,000. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Avis Budget Group in the third quarter valued at about $160,000.
Avis Budget Group Company Profile
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 and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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