Avis Budget Group (CAR) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 37

Avis Budget Group (CAR) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 37 from a previous price target of $33 . Barclays advised their investors in a research report released on Sep 27, 2016.

Many Wall Street Analysts have commented on Avis Budget Group. Macquarie Initiated Avis Budget Group on Aug 26, 2016 to “Outperform”, Price Target of the shares are set at $44.

On the company’s financial health, Avis Budget Group reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.71. The company had revenue of $2243.00 million for the quarter, compared to analysts expectations of $2214.71 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Avis Budget Group closed down -3.16 points or -8.12% at $35.77 with 71,87,372 shares getting traded on Tuesday. Post opening the session at $38.95, the shares hit an intraday low of $35.41 and an intraday high of $39.536 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 19, 2016, Ronald L Nelson (Executive Chairman) sold 50,000 shares at $38.00 per share price. According to the SEC, 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.

Avis Budget Group

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