Avis Budget Group (NASDAQ:CAR – Get a rating) released its quarterly earnings data on Monday. The business services provider reported earnings per share of $9.99 for the quarter, beating Zacks consensus estimate of $3.45 by $6.54, MarketWatch Earnings reports. Avis Budget Group achieved a net margin of 13.80% and a negative return on equity of 942.00%. In the same quarter a year earlier, the company posted ($0.46) earnings per share.
Shares of SELF opened at $280.56 on Tuesday. The company has a market capitalization of $14.47 billion, a PE ratio of 13.83, a growth price-earnings ratio of 0.61 and a beta of 2.01. The company’s fifty-day moving average is $247.34 and its two-hundred-day moving average is $227.84. Avis Budget Group has a fifty-two week minimum of $65.87 and a fifty-two week maximum of $545.11.
In other news from the Avis Budget group, the director Lynn Krominga sold 5,823 Avis Budget Group shares in a trade on Thursday, March 3. The shares were sold at an average price of $187.50, for a total value of $1,091,812.50. The sale was disclosed in an SEC filing, available at the SEC website. 37.30% of the shares are held by insiders of the company.
Several large investors have recently bought and sold shares of the stock. LPL Financial LLC increased its equity stake in Avis Budget Group by 95.7% during the third quarter. LPL Financial LLC now owns 5,930 shares of the business services provider valued at $691,000 after acquiring an additional 2,900 shares last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Avis Budget Group during Q4, valued at $722,000. Schonfeld Strategic Advisors LLC increased its equity stake in Avis Budget Group by 101.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,064 shares of the business services provider valued at $635,000 after acquiring an additional 192,959 shares in the last quarter. JustInvest LLC acquired a new position in shares of Avis Budget Group during the 4th quarter at a value of $615,000. Finally, Mackenzie Financial Corp increased its stake in shares of Avis Budget Group by 2.6% during the 4th quarter. Mackenzie Financial Corp now owns 2,823 shares of the business services provider valued at $585,000 after acquiring 72 more shares last quarter.
A number of research analysts have weighed in on CAR shares recently. StockNews.com began covering Avis Budget Group shares in a research note on Thursday, March 31. They set a “holding” rating for the company. Morgan Stanley lowered its price target on Avis Budget Group shares from $170.00 to $168.00 and set an “underweight” rating for the company in a Wednesday, Feb. 16 research note. Bank of America reduced Avis Budget Group shares from a “neutral” rating to an “underperforming” rating and lowered its target price for the stock from $250.00 to $240.00 in a note research on Wednesday, April 6. Barclays downgraded shares of Avis Budget Group from an “underweight” rating to an “equal weight” rating and raised its share price target from $164.00 to $245.00 in a research note from Wednesday, April 20. Finally, JPMorgan Chase & Co. lowered its price target on Avis Budget Group shares from $205.00 to $190.00 and set a “neutral” rating for the company in a Wednesday 16 research note. february. Two investment analysts gave the stock a sell rating, four issued a hold rating and one gave the company a strong buy rating. Based on MarketBeat data, Avis Budget Group currently has an average rating of “Hold” and a consensus price target of $224.33.
About Avis Budget Group (Get a rating)
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rental, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, which provides vehicle rental and other mobility solutions to the premium business and leisure segments of the travel industry; the Budget Truck brand, a local one-way truck and van rental company with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated locations and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car-sharing network.
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