Avis Budget Group (CAR) Downgraded by Goldman Sachs Group to Sell
Goldman Sachs Group cut shares of Avis Budget Group (NASDAQ:CAR) from a neutral rating to a sell rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $33.00 price target on the business services provider’s stock, down from their previous price target of $40.12.
Several other equities analysts have also recently issued reports on CAR. Barclays boosted their target price on Avis Budget Group from $30.00 to $32.00 and gave the stock an equal weight rating in a research report on Wednesday, November 1st. ValuEngine upgraded Avis Budget Group from a hold rating to a buy rating in a research report on Monday, December 11th. Northcoast Research reiterated a buy rating on shares of Avis Budget Group in a research report on Tuesday, November 7th. Deutsche Bank dropped their target price on Avis Budget Group from $49.00 to $48.00 and set a buy rating on the stock in a research report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded Avis Budget Group from a sell rating to a hold rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Avis Budget Group presently has a consensus rating of Hold and a consensus price target of $37.30.
Avis Budget Group (NASDAQ CAR) traded down $1.39 during midday trading on Wednesday, reaching $38.73. The company’s stock had a trading volume of 5,539,100 shares, compared to its average volume of 2,158,237. The company has a debt-to-equity ratio of 35.24, a current ratio of 1.28 and a quick ratio of 1.28. Avis Budget Group has a 52 week low of $20.71 and a 52 week high of $49.41. The firm has a market cap of $3,150.00, a PE ratio of 28.37 and a beta of 2.45.
A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Avis Budget Group in the 4th quarter valued at approximately $1,024,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Avis Budget Group by 81.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,242 shares of the business services provider’s stock valued at $362,000 after buying an additional 3,702 shares in the last quarter. Teachers Advisors LLC lifted its stake in Avis Budget Group by 27.3% in the 4th quarter. Teachers Advisors LLC now owns 388,075 shares of the business services provider’s stock valued at $17,029,000 after buying an additional 83,191 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Avis Budget Group in the 4th quarter valued at approximately $18,987,000. Finally, Deutsche Bank AG lifted its stake in Avis Budget Group by 185.4% in the 4th quarter. Deutsche Bank AG now owns 400,967 shares of the business services provider’s stock valued at $17,593,000 after buying an additional 260,491 shares in the last quarter.
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About Avis Budget Group
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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