Avis Budget Group Inc. (NASDAQ:CAR) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Monday.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $44.00 target price on shares of Avis Budget Group in a research report on Wednesday, November 16th. Barclays PLC upped their target price on Avis Budget Group from $33.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 27th. Morgan Stanley upped their target price on Avis Budget Group from $20.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, November 18th. Zacks Investment Research raised Avis Budget Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Friday, August 12th. Finally, Deutsche Bank AG upped their target price 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $36.62.

Analyst Recommendations for Avis Budget Group (NASDAQ:CAR)

Avis Budget Group (NASDAQ:CAR) opened at 38.34 on Monday. Avis Budget Group has a 52-week low of $21.73 and a 52-week high of $40.25. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 19.59 and a beta of 2.20. The firm’s 50-day moving average price is $35.17 and its 200 day moving average price is $34.40.

Avis Budget Group (NASDAQ:CAR) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.14. Avis Budget Group had a return on equity of 68.51% and a net margin of 2.18%. The firm earned $2.66 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business earned $1.98 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Avis Budget Group will post $2.96 EPS for the current year.

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In other news, insider Ronald L. Nelson sold 50,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the sale, the insider now directly owns 893,949 shares in the company, valued at approximately $33,970,062. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Jr. Hardy sold 779 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $34.84, for a total value of $27,140.36. Following the sale, the director now owns 779 shares in the company, valued at $27,140.36. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Avis Budget Group by 1.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 362,992 shares of the company’s stock worth $12,418,000 after buying an additional 3,800 shares during the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Avis Budget Group by 262.3% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 181,863 shares of the company’s stock worth $6,221,000 after buying an additional 131,663 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Avis Budget Group during the third quarter worth $978,000. Scopus Asset Management L.P. bought a new stake in shares of Avis Budget Group during the third quarter worth $12,800,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Avis Budget Group during the third quarter worth $666,000.

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 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

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