Barclays Maintains Avis Budget Group to Equal-weight with Price Target $55.00

Brokerage firm Barclays Maintains its rating on Avis Budget Group(NASDAQ:CAR). In a research note issued to the investors, the brokerage major Raises the price-target to $55.00 per share. The shares have been rated Equal-weight. The rating by Barclays was issued on Sep 27, 2016.

In a different note, Macquarie said it Initiates Coverage on Avis Budget Group, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Outperform’ by the firm. On Aug 10, 2016, Barclays said it Maintains its rating on Avis Budget Group. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 4, 2016, Deutsche Bank said it Maintains its rating on Avis Budget Group. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Buy’ by the firm.

Avis Budget Group (CAR) made into the market gainers list on Fridays trading session with the shares advancing 1.42% or 0.48 points. Due to strong positive momentum, the stock ended at $34.21, which is also near the day’s high of $34.79. The stock began the session at $34.01 and the volume stood at 22,19,221 shares. The 52-week high of the shares is $53.04 and the 52 week low is $21.7299. The company has a current market capitalization of $3,106 M and it has 9,07,88,549 shares in outstanding.

Avis Budget Group(CAR) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.24B. Analysts had an estimated revenue of $2.21B. Earnings per share were $0.63. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Sep 19, 2016, Ronald L Nelson (Executive Chairman) sold 50,000 shares at $38.00 per share price.Also, On Aug 25, 2016, Edward P Linnen (EVP, Chief HR Officer) sold 4,000 shares at $36.69 per share price.On Aug 18, 2016, David B Wyshner (President & CFO) sold 20,000 shares at $36.27 per share price, according to the Form-4 filing with the securities and exchange commission.

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 is a rental car supplier and Budget is a rental vehicle supplier. The Company also own Payless a car rental brand and Apex which is a car rental brand in New Zealand and Australia. The Company operates in three segments: North America International and Truck Rental. North America segment provides car rentals in the United States and vehicle rentals in Canada as well as ancillary products and services. International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products in Europe the Middle East Africa Asia South America Central America the Caribbean Australia and New Zealand. Truck Rental segment provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

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