Analysts Set Avis Budget Group Inc. (CAR) Target Price at the $35.07

Analysts Set Avis Budget Group Inc. (CAR) Target Price at the $35.07

Avis Budget Group Inc. (NASDAQ:CAR) has earned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $35.07.

Several research analysts recently weighed in on CAR shares. Deutsche Bank AG upped their target price 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 reaffirmed a “buy” rating and issued a $34.00 target price on shares of Avis Budget Group in a report on Wednesday, August 3rd. MKM Partners set a $47.00 target price on shares of Avis Budget Group and gave the stock a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research raised shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, August 12th. Finally, Barclays PLC upped their target price on shares of Avis Budget Group from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th.

Avis Budget Group (NASDAQ:CAR) opened at 38.04 on Friday. The stock’s 50 day moving average price is $33.92 and its 200-day moving average price is $33.22. Avis Budget Group has a 52 week low of $21.73 and a 52 week high of $42.21. The company has a market capitalization of $3.34 billion, a PE ratio of 19.44 and a beta of 2.20.

Avis Budget Group (NASDAQ:CAR) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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 firm posted $1.98 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Avis Budget Group will post $2.96 earnings per share for the current fiscal year.

In other news, EVP Edward P. Linnen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $36.69, for a total transaction of $146,760.00. Following the sale, the executive vice president now directly owns 13,589 shares in the company, valued at approximately $498,580.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David B. Wyshner sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $36.27, for a total transaction of $725,400.00. Following the sale, the chief financial officer now owns 158,293 shares in the company, valued at $5,741,287.11. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Partnervest Advisory Services LLC increased its position in shares of Avis Budget Group by 2.2% in the second quarter. Partnervest Advisory Services LLC now owns 8,119 shares of the company’s stock valued at $262,000 after buying an additional 174 shares during the last quarter. Calvert Investment Management Inc. increased its position in shares of 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 during the last quarter. BlackRock Advisors LLC increased its position in shares of Avis Budget Group by 0.9% in the third quarter. BlackRock Advisors LLC now owns 48,521 shares of the company’s stock valued at $1,660,000 after buying an additional 420 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Avis Budget Group by 7.0% in the third quarter. Pacer Advisors Inc. now owns 8,510 shares of the company’s stock valued at $291,000 after buying an additional 560 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Avis Budget Group by 3.7% in the first quarter. Prudential Financial Inc. now owns 15,759 shares of the company’s stock valued at $432,000 after buying an additional 563 shares during the last quarter.

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