Several other research firms have also recently weighed in on CAR. The Goldman Sachs Group assumed coverage on shares of Avis Budget Group in a research report on Thursday, December 7th. They issued a sell rating and a $164.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Avis Budget Group from a hold rating to a buy rating and raised their price objective for the company from $234.00 to $248.00 in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Avis Budget Group has an average rating of Hold and an average price target of $222.40.
Avis Budget Group Stock Down 0.3 %
Avis Budget Group (NASDAQ:CAR – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The business services provider reported $7.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.95. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. Avis Budget Group had a net margin of 14.95% and a negative return on equity of 559.82%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $10.46 EPS. As a group, research analysts expect that Avis Budget Group will post 40.16 earnings per share for the current year.
Avis Budget Group Announces Dividend
The firm also recently declared a special dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, December 15th were given a dividend of $10.00 per share. The ex-dividend date of this dividend was Thursday, December 14th.
Insider Transactions at Avis Budget Group
In other news, EVP Izilda P. Martins sold 3,950 shares of Avis Budget Group stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $195.86, for a total transaction of $773,647.00. Following the completion of the sale, the executive vice president now owns 21,145 shares in the company, valued at approximately $4,141,459.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Joseph A. Ferraro sold 18,460 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $195.41, for a total transaction of $3,607,268.60. Following the completion of the transaction, the chief executive officer now owns 217,405 shares in the company, valued at $42,483,111.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Izilda P. Martins sold 3,950 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $195.86, for a total transaction of $773,647.00. Following the transaction, the executive vice president now owns 21,145 shares of the company’s stock, valued at approximately $4,141,459.70. The disclosure for this sale can be found here. 48.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CAR. Huntington National Bank boosted its holdings in shares of Avis Budget Group by 101.0% in the third quarter. Huntington National Bank now owns 209 shares of the business services provider’s stock valued at $38,000 after buying an additional 105 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Avis Budget Group by 15,550.0% in the fourth quarter. TFO Wealth Partners LLC now owns 313 shares of the business services provider’s stock valued at $55,000 after buying an additional 311 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Avis Budget Group in the first quarter valued at approximately $70,000. Headlands Technologies LLC acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $79,000. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Avis Budget Group in the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 98.26% of the company’s stock.
About Avis Budget Group
Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 415 dealer-operated and 390 company-operated locations that serve the light commercial and consumer sectors in the continental United States; and the Zipcar brand, a car sharing network.
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