In today’s session Avis Budget Group Inc. (CAR) registered an unusually high (2,003) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious CAR increase. With 2,003 contracts traded and 224 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: CAR161021C00031000 closed last at: $1.25 or 30.6% down. About 550,705 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 15.70% since March 14, 2016 and is uptrending. It has outperformed by 10.09% 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 $211.62M for 3.38 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. Avis Budget has been the topic of 18 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Avis Budget Group Inc. (NASDAQ:CAR) rating on Wednesday, August 5. Barclays Capital has “Equal Weight” rating and $51.0 price target. The rating was initiated by Sterne Agee CRT on Tuesday, March 22 with “Buy”. The stock has “Outperform” rating given by Credit Suisse on Thursday, February 25. The rating was maintained by Barclays Capital on Wednesday, August 10 with “Equal-Weight”. The rating was downgraded by JP Morgan on Wednesday, November 4 to “Neutral”. The rating was maintained by Barclays Capital with “Equal Weight” on Monday, November 16. Deutsche Bank maintained Avis Budget Group Inc. (NASDAQ:CAR) on Thursday, August 4 with “Buy” rating. Barclays Capital maintained the stock with “Equal-Weight” rating in Thursday, February 25 report. The rating was maintained by Deutsche Bank on Thursday, February 25 with “Buy”. Barclays Capital maintained the shares of CAR in a report on Tuesday, September 27 with “Equal Weight” rating.
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 Q2 2016. 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.
Tcw Grp Inc last reported 0.01% of its portfolio in the stock. Sei last reported 0.03% of its portfolio in the stock. Blackrock Institutional Trust Communication Na has 2.29 million shares for 0.01% of their US portfolio. Loring Wolcott Coolidge Fiduciary Advsrs Llp Ma holds 450 shares or 0% of its portfolio. Point72 Asia (Hong Kong) Ltd has 1.47% invested in the company for 39,370 shares. Dimensional Fund Advsr Ltd Partnership accumulated 0.05% or 2.91M shares. Gsa Cap Partners Ltd Liability Partnership owns 38,777 shares or 0.07% of their US portfolio. Moreover, Neuberger Berman Gru Limited Liability Company has 0.09% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 2.07M shares. Credit Agricole S A holds 0.01% or 102,104 shares in its portfolio. Patten Gru last reported 70 shares in the company. Thompson Siegel And Walmsley Limited has invested 0% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Paloma Prtnrs Mngmt has 118,943 shares for 0.04% of their US portfolio. Jane Street Grp Limited Liability Corporation, a New York-based fund reported 46,006 shares. Credit Suisse Ag owns 147,172 shares or 0.01% of their US portfolio. Creative Planning holds 0% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 1,475 shares.
Insider Transactions: Since May 5, 2016, the stock had 1 buy, and 9 selling transactions for $15.82 million net activity. Another trade for 6,656 shares valued at $250,598 was sold by Tucker Michael K. Hardy John D. Jr. sold $28,332 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Thursday, August 4. SRS Investment Management – LLC sold 500,000 shares worth $12.70 million. Another trade for 2,368 shares valued at $60,668 was made by Sweeney Stender E on Thursday, May 5. Servodidio Mark J had bought 1,900 shares worth $49,894. Linnen Edward P sold $146,760 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Wednesday, August 24. $1.90 million worth of Avis Budget Group Inc. (NASDAQ:CAR) shares were sold by NELSON RONALD L.
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $2.86 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 20.26 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.
Another recent and important Avis Budget Group Inc. (NASDAQ:CAR) news was published by Globenewswire.com which published an article titled: “Avis Budget Group Announces Closing of â‚¬300 Million Senior Notes Offering” on September 26, 2016.
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