BidaskClub downgraded shares of Avis Budget Group (NASDAQ:CAR) from a hold rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Avis Budget Group from a strong-buy rating to a hold rating in a research report on Tuesday, April 30th. ValuEngine upgraded shares of Avis Budget Group from a strong sell rating to a sell rating in a research report on Friday, February 22nd. Deutsche Bank restated a buy rating and set a $48.00 target price on shares of Avis Budget Group in a research report on Wednesday, March 6th. Finally, Goldman Sachs Group upgraded shares of Avis Budget Group from a sell rating to a buy rating and upped their target price for the stock from $30.00 to $35.00 in a research report on Monday, February 11th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Avis Budget Group presently has an average rating of Hold and an average price target of $39.67.

Shares of Avis Budget Group stock opened at $31.45 on Friday. Avis Budget Group has a 52-week low of $21.63 and a 52-week high of $43.61. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 51.70. The stock has a market cap of $2.40 billion, a PE ratio of 8.62 and a beta of 1.93.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.24. Avis Budget Group had a net margin of 1.77% and a return on equity of 71.86%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business posted ($0.74) earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Equities analysts anticipate that Avis Budget Group will post 3.99 earnings per share for the current fiscal year.

In other Avis Budget Group news, insider Mark J. Servodidio sold 38,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $37.07, for a total value of $1,408,660.00. Following the sale, the insider now owns 60,711 shares of the company’s stock, valued at $2,250,556.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael K. Tucker sold 4,796 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $35.50, for a total transaction of $170,258.00. Following the completion of the sale, the executive vice president now directly owns 66,906 shares in the company, valued at approximately $2,375,163. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP lifted its holdings in shares of Avis Budget Group by 330.1% in the fourth quarter. Two Sigma Advisers LP now owns 120,074 shares of the business services provider’s stock valued at $2,699,000 after purchasing an additional 92,155 shares in the last quarter. Morgan Stanley lifted its stake in shares of Avis Budget Group by 17.6% during the third quarter. Morgan Stanley now owns 459,721 shares of the business services provider’s stock valued at $14,775,000 after buying an additional 68,696 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Avis Budget Group by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 16,902 shares of the business services provider’s stock valued at $380,000 after buying an additional 1,006 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Avis Budget Group during the fourth quarter valued at approximately $1,310,000. Finally, Commonwealth Bank of Australia lifted its stake in shares of Avis Budget Group by 45.8% during the fourth quarter. Commonwealth Bank of Australia now owns 258,503 shares of the business services provider’s stock valued at $5,807,000 after buying an additional 81,200 shares during the period.

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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Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

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