Price Action to Note: Could Avis Budget Group Inc. Decline After Today’s Big Increase?

Price Action to Note: Could Avis Budget Group Inc. Decline After Today's Big Increase?

The stock of Avis Budget Group Inc. (NASDAQ:CAR) is a huge mover today! About 5.72 million shares traded hands or 199.48% up from the average. Avis Budget Group Inc. (NASDAQ:CAR) has risen 22.58% since April 1, 2016 and is uptrending. It has outperformed by 21.37% the S&P500.
The move comes after 7 months positive chart setup for the $3.30B company. It was reported on Nov, 3 by Barchart.com. We have $44.40 PT which if reached, will make NASDAQ:CAR worth $726.00M more.

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 $213.11 million for 3.87 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 7 analysts covering Avis Budget (NASDAQ:CAR), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Avis Budget has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital with “Equal-Weight” on Thursday, February 25. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, April 12. The rating was maintained by Barclays Capital on Wednesday, August 5 with “Equal Weight”. The stock has “Neutral” rating given by JP Morgan on Wednesday, November 4. As per Monday, February 22, the company rating was maintained by Barclays Capital. The firm has “Neutral” rating given on Monday, October 24 by Goldman Sachs. As per Friday, August 26, the company rating was initiated by Macquarie Research. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Equal-Weight” rating by Barclays Capital on Wednesday, August 10. M Partners maintained the stock with “Buy” rating in Monday, December 14 report. The rating was maintained by Credit Suisse with “Outperform” on Thursday, February 25.

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.
Aperio Group Inc Incorporated Lc last reported 0% of its portfolio in the stock. Hbk Invs L P has 0.03% invested in the company for 96,500 shares. Advent Int Ma reported 44,200 shares or 0.03% of all its holdings. Lyrical Asset Management Limited Partnership has invested 1.94% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Bank & Trust Of Montreal Can holds 0.03% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 768,826 shares. Parametric Portfolio Associate Limited Liability holds 0.01% or 176,115 shares in its portfolio. Blackrock Ltd Com reported 32,709 shares or 0% of all its holdings. Cornerstone Cap Mgmt Ltd Liability Corp last reported 50,200 shares in the company. Diligent Investors Ltd Llc holds 14,894 shares or 0.46% of its portfolio. Patten Grp Inc Inc Inc owns 70 shares or 0% of their US portfolio. Huntington Natl Bank last reported 100 shares in the company. State Board Of Administration Of Florida Retirement last reported 158,718 shares in the company. Voloridge Investment Mgmt Ltd Liability reported 37,189 shares or 0.03% of all its holdings. Jpmorgan Chase & reported 36,890 shares or 0% of all its holdings. Brandywine Global Inv Mgmt Ltd last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 5, 2016, the stock had 1 buy, and 6 sales for $3.03 million net activity. 6,656 shares were sold by Tucker Michael K, worth $250,598 on Thursday, August 4. Sweeney Stender E also sold $29,612 worth of Avis Budget Group Inc. (NASDAQ:CAR) shares. $725,400 worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by Wyshner David B on Wednesday, August 17. The insider Servodidio Mark J bought 1,900 shares worth $49,894. $12.70M worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by SRS Investment Management – LLC on Thursday, May 5. Linnen Edward P sold $146,760 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Wednesday, August 24. 50,000 Avis Budget Group Inc. (NASDAQ:CAR) shares with value of $1.90M were sold by NELSON RONALD L.

More news for Avis Budget Group Inc. (NASDAQ:CAR) were recently published by: Fool.com, which released: “Why Shares of Avis Budget Group Are Surging Today” on November 03, 2016. Globenewswire.com‘s article titled: “Avis Budget Group Reports Third Quarter Results” and published on November 02, 2016 is yet another important article.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment