Avis Budget Group Inc. Is a Buy; Strong Momentum from Option Traders

 Avis Budget Group Inc. Is a Buy; Strong Momentum from Option Traders

In today’s session Avis Budget Group Inc. (CAR) registered an unusually high (7,316) 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 7,316 contracts traded and 14124 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CAR161118C00035000 closed last at: $1.75 or 62.8% down. About 347,828 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 45.47% since April 8, 2016 and is uptrending. It has outperformed by 39.82% the S&P500.

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. $63.0 is the highest target while $29 is the lowest. The $38.57 average target is 2.58% above today’s ($37.6) stock price. Avis Budget has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Barclays Capital maintained it with “Equal-Weight” rating and $33 target price in Wednesday, August 10 report. The rating was maintained by Barclays Capital on Tuesday, September 27 with “Equal Weight”. Credit Suisse maintained Avis Budget Group Inc. (NASDAQ:CAR) rating on Tuesday, April 12. Credit Suisse has “Outperform” rating and $34 price target. Deutsche Bank maintained Avis Budget Group Inc. (NASDAQ:CAR) rating on Thursday, August 4. Deutsche Bank has “Buy” rating and $45 price target. The rating was maintained by Barclays Capital on Monday, November 16 with “Equal Weight”. The firm earned “Equal-Weight” rating on Monday, February 22 by Barclays Capital. The company was maintained on Thursday, February 25 by Deutsche Bank. M Partners maintained the shares of CAR in a report on Monday, December 14 with “Buy” rating. M Partners maintained the shares of CAR in a report on Thursday, February 25 with “Buy” rating. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Outperform” rating given on Thursday, February 25 by Credit Suisse.

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 turned negative, 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.
D E Shaw & owns 40,683 shares or 0% of their US portfolio. The Tennessee-based Livingston Gp Asset Management Co (Operating As Southport Cap Management) has invested 0.01% in Avis Budget Group Inc. (NASDAQ:CAR). Metropolitan Life Insur Ny last reported 6,287 shares in the company. Bank Of New York Mellon has 4.08M shares for 0.04% of their US portfolio. Bnp Paribas Arbitrage Sa owns 3,651 shares or 0% of their US portfolio. Philadelphia Finance Mgmt Of San Francisco Limited Liability accumulated 3.62% or 489,161 shares. Creative Planning last reported 1,475 shares in the company. Ladenburg Thalmann Fin Serv last reported 0% of its portfolio in the stock. Amalgamated Retail Bank accumulated 0.03% or 13,353 shares. Jnba Finance Advsrs has 0% invested in the company for 50 shares. Balyasny Asset Mngmt Lc owns 637,353 shares or 0.13% of their US portfolio. Royal Savings Bank Of Canada has 14,089 shares for 0% of their US portfolio. Utah Retirement Sys accumulated 15,200 shares or 0.01% of the stock. Schwab Charles Invest has 0.01% invested in the company for 324,502 shares. Prudential Inc reported 9,047 shares or 0% of all its holdings.

Insider Transactions: Since May 17, 2016, the stock had 1 insider buy, and 8 insider sales for $5.56 million net activity. $29,612 worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by Sweeney Stender E. Hardy John D. Jr. sold $27,140 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Friday, November 4. Servodidio Mark J had bought 1,900 shares worth $49,894 on Tuesday, May 17. Another trade for 50,000 shares valued at $1.90M was sold by NELSON RONALD L. Another trade for 4,000 shares valued at $146,760 was made by Linnen Edward P on Wednesday, August 24. Tucker Michael K sold 6,656 shares worth $250,598. Shares for $725,400 were sold by Wyshner David B on Wednesday, August 17.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.36 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 18.12 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: Nasdaq.com, which released: “Avis Budget Group Reaches Analyst Target Price” on November 07, 2016. Streetinsider.com‘s article titled: “Form 4 AVIS BUDGET GROUP, INC. For: Nov 04 Filed by: KROMINGA LYNN” and published on November 08, 2016 is yet another important article.

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