How Analysts Feel About Avis Budget Group Inc. After Today’s Bearish Options Activity?

 How Analysts Feel About Avis Budget Group Inc. After Today's Bearish Options Activity?

In today’s session Avis Budget Group Inc. (CAR) recorded an unusually high (927) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious CAR decrease. With 927 contracts traded and 8514 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: CAR161216P00038000 closed last at: $1.45 or 19.4% down. About 329,780 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 64.93% since April 21, 2016 and is uptrending. It has outperformed by 59.60% the S&P500.

Analysts await Avis Budget Group Inc. (NASDAQ:CAR) to report earnings on February, 28. They expect $0.21 earnings per share, up 16.67% or $0.03 from last year’s $0.18 per share. CAR’s profit will be $18.83M for 47.27 P/E if the $0.21 EPS becomes a reality. After $2.47 actual earnings per share reported by Avis Budget Group Inc. for the previous quarter, Wall Street now forecasts -91.50% negative 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. $63.0 is the highest target while $29 is the lowest. The $38.57 average target is -2.87% below today’s ($39.71) stock price. Avis Budget has been the topic of 19 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Monday, November 16 the stock rating was maintained by Barclays Capital with “Equal Weight”. On Monday, October 24 the stock rating was initiated by Goldman Sachs with “Neutral”. As per Thursday, February 25, the company rating was maintained by Deutsche Bank. Barclays Capital maintained it with “Equal Weight” rating and $51.0 target price in Wednesday, August 5 report. The firm has “Buy” rating by Sterne Agee CRT given on Tuesday, March 22. Macquarie Research initiated the stock with “Outperform” rating in Friday, August 26 report. The rating was maintained by M Partners on Monday, December 14 with “Buy”. Credit Suisse maintained the shares of CAR in a report on Thursday, February 25 with “Outperform” rating. As per Thursday, February 25, the company rating was maintained by M Partners. JP Morgan downgraded it to “Neutral” rating and $49 target price in Wednesday, November 4 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 increased to 1.06 in Q2 2016. Its up 0.23, from 0.83 in 2016Q1. The ratio is positive, 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.
Alliancebernstein Limited Partnership holds 67,893 shares or 0% of its portfolio. Janus Capital Mgmt Limited Liability Company last reported 0% of its portfolio in the stock. Sei Investments last reported 0.03% of its portfolio in the stock. Elk Creek Prtnrs Ltd Liability Com owns 143,514 shares or 0.42% of their US portfolio. Geode Cap Management Limited Liability last reported 0.01% of its portfolio in the stock. Pnc Fincl Svcs Gp owns 1,538 shares or 0% of their US portfolio. The Florida-based Voloridge Investment Management has invested 0.03% in Avis Budget Group Inc. (NASDAQ:CAR). The California-based California Public Employees Retirement has invested 0.02% in Avis Budget Group Inc. (NASDAQ:CAR). Manufacturers Life Insur Company The has 0% invested in the company for 2,977 shares. Moreover, Lyrical Asset Lp has 1.94% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 2.89 million shares. Standard Life accumulated 882,017 shares or 0.13% of the stock. Clear Harbor Asset Management Limited Liability Company accumulated 19,560 shares or 0.14% of the stock. Employees Retirement Association Of Colorado last reported 20,318 shares in the company. The Illinois-based Ubs Oconnor Limited Co has invested 0% in Avis Budget Group Inc. (NASDAQ:CAR). Par Cap Management has invested 0.74% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR).

Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 11 sales for $7.23 million net activity. Shares for $1.90M were sold by NELSON RONALD L on Friday, September 16. Wyshner David B also sold $725,400 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Wednesday, August 17. Sweeney Stender E sold 803 shares worth $30,789. Hardy John D. Jr. sold $27,140 worth of Avis Budget Group Inc. (NASDAQ:CAR) on Friday, November 4. Tucker Michael K sold $95,243 worth of stock or 2,439 shares. Linnen Edward P sold $146,760 worth of stock.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.56 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 19.13 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 recent Avis Budget Group Inc. (NASDAQ:CAR) news were published by: Fool.com which released: “Why Shares of Avis Budget Group Are Surging Today” on November 03, 2016. Also Nasdaq.com published the news titled: “Avis Budget Group Reaches Analyst Target Price” on November 07, 2016. Globenewswire.com‘s news article titled: “Avis Budget Group Extends Relationship With AARP” with publication date: November 10, 2016 was also an interesting one.

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