Market Runner: Today Avis Budget Group Inc. Stock Crashes

Market Runner: Today Avis Budget Group Inc. Stock Crashes

The stock of Avis Budget Group Inc. (NASDAQ:CAR) is a huge mover today! About 8.03 million shares traded hands or 282.38% up from the average. Avis Budget Group Inc. (NASDAQ:CAR) has risen 55.38% since April 6, 2016 and is uptrending. It has outperformed by 53.42% the S&P500.
The move comes after 6 months negative chart setup for the $3.24B company. It was reported on Nov, 8 by Barchart.com. We have $33.88 PT which if reached, will make NASDAQ:CAR worth $162.00M less.

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 stock has “Buy” rating given by Deutsche Bank on Thursday, February 25. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Buy” rating given on Thursday, August 4 by Deutsche Bank. Barclays Capital maintained the shares of CAR in a report on Wednesday, August 5 with “Equal Weight” rating. The stock has “Equal-Weight” rating given by Barclays Capital on Monday, February 22. Barclays Capital maintained Avis Budget Group Inc. (NASDAQ:CAR) rating on Tuesday, September 27. Barclays Capital has “Equal Weight” rating and $37 price target. As per Monday, November 16, the company rating was maintained by Barclays Capital. The stock of Avis Budget Group Inc. (NASDAQ:CAR) earned “Equal-Weight” rating by Barclays Capital on Thursday, February 25. Credit Suisse maintained Avis Budget Group Inc. (NASDAQ:CAR) on Tuesday, April 12 with “Outperform” rating. The firm has “Outperform” rating given on Friday, August 26 by Macquarie Research. The rating was initiated by Sterne Agee CRT with “Buy” on Tuesday, March 22.

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 fall, 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.
Aqr Cap Ltd Com has 0% invested in the company for 10,517 shares. Ibm Retirement Fund accumulated 0.01% or 8,445 shares. Diamond Hill Cap Mngmt has invested 1.19% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR). Rhumbline Advisers has 85,644 shares for 0.01% of their US portfolio. Architects last reported 1,963 shares in the company. The New York-based Bnp Paribas Arbitrage has invested 0% in Avis Budget Group Inc. (NASDAQ:CAR). Carroll Financial Assoc Incorporated reported 70 shares or 0% of all its holdings. Employees Retirement Association Of Colorado last reported 20,318 shares in the company. First Republic Invest Mngmt holds 66,819 shares or 0.02% of its portfolio. Century Inc last reported 120,495 shares in the company. The United Kingdom-based Aberdeen Asset Mgmt Public Ltd Company Uk has invested 0% in Avis Budget Group Inc. (NASDAQ:CAR). Price T Rowe Inc Md accumulated 0% or 359,192 shares. State Street Corporation last reported 0% of its portfolio in the stock. Advsrs Asset Mgmt Incorporated holds 1,930 shares or 0% of its portfolio. Pnc Svcs Grp holds 0% or 1,538 shares in its portfolio.

Insider Transactions: Since May 17, 2016, the stock had 1 buying transaction, and 6 insider sales for $3.03 million net activity. 20,000 shares with value of $725,400 were sold by Wyshner David B on Wednesday, August 17. $28,332 worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by Hardy John D. Jr. on Thursday, August 4. On Tuesday, May 17 the insider Servodidio Mark J bought $49,894. $1.90 million worth of shares were sold by NELSON RONALD L on Friday, September 16. Tucker Michael K had sold 6,656 shares worth $250,598. $29,612 worth of Avis Budget Group Inc. (NASDAQ:CAR) shares were sold by Sweeney Stender E. The insider Linnen Edward P sold 4,000 shares worth $146,760.

Another recent and important Avis Budget Group Inc. (NASDAQ:CAR) news was published by Nasdaq.com which published an article titled: “Avis Budget Group Reaches Analyst Target Price” on November 07, 2016.

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.

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