In today’s session Avis Budget Group Inc. (CAR) registered an unusually high (504) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CAR increase. With 504 contracts traded and 1084 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CAR161118C00034000 closed last at: $2.35 or 11.3% down. About 183,222 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 19.51% since March 2, 2016 and is uptrending. It has outperformed by 11.25% the S&P500.
Analysts await Avis Budget Group Inc. (NASDAQ:CAR) to report earnings on November, 7. They expect $2.35 EPS, up 18.69% or $0.37 from last year’s $1.98 per share. CAR’s profit will be $209.59M for 3.59 P/E if the $2.35 EPS becomes a reality. After $0.63 actual EPS reported by Avis Budget Group Inc. for the previous quarter, Wall Street now forecasts 273.02% EPS growth.
Avis Budget Group Inc. (NASDAQ:CAR) Ratings Coverage
Out of 6 analysts covering Avis Budget (NASDAQ:CAR), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $63.0 is the highest target while $29 is the lowest. The $40 average target is 18.52% above today’s ($33.75) stock price. Avis Budget has been the topic of 18 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Friday, August 26 the stock rating was initiated by Macquarie Research with “Outperform”. The rating was maintained by Credit Suisse on Tuesday, April 12 with “Outperform”. The firm earned “Buy” rating on Tuesday, March 22 by Sterne Agee CRT. The stock has “Buy” rating given by Deutsche Bank on Thursday, February 25. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Equal-Weight” rating by Barclays Capital on Thursday, February 25. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, August 5 report. As per Thursday, February 25, the company rating was maintained by Credit Suisse. The firm has “Equal Weight” rating given on Tuesday, September 27 by Barclays Capital. On Monday, November 16 the stock rating was maintained by Barclays Capital with “Equal Weight”. M Partners maintained it with “Buy” rating and $63.0 target price in Monday, December 14 report.
According to Zacks Investment Research, “Avis Budget Group, Inc. is a leading provider of vehicle rental services, with operations in more than seventy countries. Through its Avis and Budget brands, the company is the largest general-use vehicle rental company in each of North America, Australia, New Zealand and certain other regions. Avis Budget Group is headquartered in Parsippany, N.J. Avis is a leading supplier to the premium commercial and leisure segments of the travel industry, and Budget is a leading supplier to price-conscious car rental segments. Avis Budget Group maintains the leading share of airport car rental revenue, and we operate the second largest consumer truck rental business in the United States. The company generate significant benefits from operating two distinctive car rental brands targeting different market segments but share the same fleet, maintenance facilities, technology and administrative infrastructure”
Insitutional Activity: The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 0.23, from 1.06 in 2016Q1. The ratio dived, as 33 funds sold all Avis Budget Group Inc. shares owned while 76 reduced positions. 37 funds bought stakes while 53 increased positions. They now own 95.80 million shares or 3.70% less from 99.49 million shares in 2016Q1.
Fiera, a Quebec – Canada-based fund reported 88,900 shares. Cibc Mkts last reported 0.43% of its portfolio in the stock. Summit Secs Grp Ltd Company has invested 0.37% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Blackrock Group Limited last reported 0% of its portfolio in the stock. Commonwealth Bancorp Of Aus accumulated 112,400 shares or 0.04% of the stock. Glenmede Na accumulated 0% or 144 shares. The New York-based Jpmorgan Chase & Company has invested 0% in Avis Budget Group Inc. (NASDAQ:CAR). Tower Rech Llc (Trc) accumulated 264 shares or 0% of the stock. Prudential Fincl Inc, a New Jersey-based fund reported 9,047 shares. Vanguard Gp Incorporated Inc has 6.12 million shares for 0.01% of their US portfolio. The Florida-based State Board Of Administration Of Florida Retirement Systems has invested 0.02% in Avis Budget Group Inc. (NASDAQ:CAR). Metropolitan Life Ins Co Ny has invested 0% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Parkwood Ltd Liability Com has invested 0.06% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Brookside Capital Mngmt Limited Company holds 3.31% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 2.45 million shares. Nationwide Fund Advsrs last reported 0.02% of its portfolio in the stock.
Insider Transactions: Since May 5, 2016, the stock had 1 buy, and 9 sales for $15.82 million net activity. Another trade for 1,900 shares valued at $49,894 was made by Servodidio Mark J on Tuesday, May 17. Tucker Michael K also sold $250,598 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Thursday, August 4. On Thursday, August 4 Hardy John D. Jr. sold $28,332 worth of the stock or 738 shares. On Thursday, May 5 the insider Sweeney Stender E sold $60,668. 50,000 Avis Budget Group Inc. (NASDAQ:CAR) shares with value of $1.90M were sold by NELSON RONALD L. The insider Wyshner David B sold $725,400. The insider Linnen Edward P sold 4,000 shares worth $146,760.
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.01 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 21.53 P/E ratio. Avis is a rental car supplier and Budget is a rental vehicle supplier.
CAR Company Profile
Avis Budget Group Inc., incorporated on August 1, 1974, is a well-known provider of vehicle rental and car sharing services. The Firm operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Firm also owns Payless, which is a car rental brand, and Apex, which is a car rental brand in New Zealand and Australia. The Firm operates in two divisions: Americas and International. The Americas segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary services and products in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets. The International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary services and products in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand, and operates its car sharing business in certain of these markets.
More news for Avis Budget Group Inc. (NASDAQ:CAR) were recently published by: Finance.Yahoo.com, which released: “Avis Budget Group Agrees to Acquire France Cars” on September 14, 2016. Globenewswire.com‘s article titled: “Avis Budget Group Announces Closing of â‚¬300 Million Senior Notes Offering” and published on September 26, 2016 is yet another important article.
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