Avis Budget Group, Inc. (NASDAQ:CAR) Director John D. Jr. Hardy sold 831 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $35.36, for a total transaction of $29,384.16. Following the completion of the sale, the director now directly owns 831 shares in the company, valued at $29,384.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Avis Budget Group, Inc. (NASDAQ CAR) traded down $0.76 during trading hours on Wednesday, reaching $32.56. The company’s stock had a trading volume of 2,680,800 shares, compared to its average volume of 2,861,829. Avis Budget Group, Inc. has a fifty-two week low of $20.71 and a fifty-two week high of $42.40. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 35.24. The stock has a market cap of $2,650.00, a price-to-earnings ratio of 12.77 and a beta of 2.57.
Avis Budget Group (NASDAQ:CAR) last announced its quarterly earnings data on Monday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.11. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.78 billion. Avis Budget Group had a return on equity of 95.28% and a net margin of 1.26%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. sell-side analysts anticipate that Avis Budget Group, Inc. will post 2.6 EPS for the current year.
The company also recently disclosed a monthly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.107 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 3.94%.
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Several research analysts have weighed in on the stock. Barclays PLC upped their price objective on shares of Avis Budget Group from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Avis Budget Group from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, October 18th. BidaskClub lowered shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. MKM Partners increased their target price on shares of Avis Budget Group from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Finally, ValuEngine raised shares of Avis Budget Group from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $37.70.
A number of large investors have recently added to or reduced their stakes in CAR. Louisiana State Employees Retirement System grew its position in shares of Avis Budget Group by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock worth $600,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. raised its stake in Avis Budget Group by 4.0% in the second quarter. Pacer Advisors Inc. now owns 9,261 shares of the business services provider’s stock valued at $253,000 after buying an additional 356 shares during the last quarter. Wittenberg Investment Management Inc. raised its stake in shares of Avis Budget Group by 0.7% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 69,309 shares of the business services provider’s stock worth $1,890,000 after buying an additional 500 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Avis Budget Group by 3.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,820 shares of the business services provider’s stock worth $459,000 after buying an additional 580 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Avis Budget Group by 13.0% during the 2nd quarter. LS Investment Advisors LLC now owns 8,881 shares of the business services provider’s stock worth $242,000 after buying an additional 1,024 shares in the last quarter.
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 and Budget are a rental car supplier. It also owns Payless, which a car rental brand; Apex, which is a car rental brand in New Zealand and Australia; Maggiore, a vehicle rental brand in Italy, and France Cars, which operates light commercial vehicle fleets in France.
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