Can Avis Budget Group, Inc. (CAR)’s Tomorrow be Different? The Stock Formed a Multiple Top

May 20, 2018 - By Kurt Siggers

Avis Budget Group, Inc. (NASDAQ:CAR) Logo

Investors sentiment increased to 0.7 in Q4 2017. Its up 0.12, from 0.58 in 2017Q3. It is positive, as 39 investors sold Avis Budget Group, Inc. shares while 78 reduced holdings. 36 funds opened positions while 46 raised stakes. 100.88 million shares or 8.81% less from 110.63 million shares in 2017Q3 were reported.
Riverhead Capital Llc, Delaware-based fund reported 3,634 shares. Alliancebernstein Lp, a New York-based fund reported 125,440 shares. First Republic Invest Mngmt Inc, a California-based fund reported 156,361 shares. Financial Bank Of America De invested in 604,670 shares or 0% of the stock. Ontario Teachers Pension Plan Board reported 36,963 shares. Principal invested in 303,927 shares or 0.01% of the stock. Commonwealth Savings Bank Of Aus reported 120,100 shares stake. Regions Fincl Corporation has 0% invested in Avis Budget Group, Inc. (NASDAQ:CAR). 51,569 are owned by Arizona State Retirement Systems. Vanguard Grp has invested 0.01% of its portfolio in Avis Budget Group, Inc. (NASDAQ:CAR). Brown Advisory Inc has invested 0% in Avis Budget Group, Inc. (NASDAQ:CAR). Globeflex L P owns 10,950 shares. 42,061 are owned by Parallax Volatility Advisers L P. Voya Invest Mngmt Ltd Liability Company owns 32,424 shares for 0% of their portfolio. Rhumbline Advisers invested in 134,417 shares.

Since December 8, 2017, it had 1 buying transaction, and 3 selling transactions for $141.56 million activity. 1,022 Avis Budget Group, Inc. (NASDAQ:CAR) shares with value of $45,622 were sold by Hardy John D. Jr.. Another trade for 2,878 shares valued at $129,510 was made by Sweeney Stender E on Friday, May 4. Linnen Edward P had sold 5,000 shares worth $225,600.

The stock of Avis Budget Group, Inc. (CAR) shows a multiple tops pattern with $43.68 target or 4.00 % above today’s $42.00 share price. The 8 months chart pattern indicates low risk for the $3.41B company. It was reported on May, 20 by If the $43.68 price target is reached, the company will be worth $136.52M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 6.15% or $2.75 during the last trading session, reaching $42. About 2.64M shares traded or 6.68% up from the average. Avis Budget Group, Inc. (NASDAQ:CAR) has risen 66.28% since May 20, 2017 and is uptrending. It has outperformed by 54.73% the S&P500.

Analysts await Avis Budget Group, Inc. (NASDAQ:CAR) to report earnings on August, 6. They expect $0.57 earnings per share, up 90.00 % or $0.27 from last year’s $0.3 per share. CAR’s profit will be $46.32M for 18.42 P/E if the $0.57 EPS becomes a reality. After $-0.74 actual earnings per share reported by Avis Budget Group, Inc. for the previous quarter, Wall Street now forecasts -177.03 % EPS growth.

Avis Budget Group, Inc. (NASDAQ:CAR) Ratings Coverage

Among 4 analysts covering Avis Budget Group (NASDAQ:CAR), 1 have Buy rating, 1 Sell and 2 Hold. Therefore 25% are positive. Avis Budget Group had 6 analyst reports since February 14, 2018 according to SRatingsIntel. The firm earned “Sell” rating on Wednesday, February 14 by Goldman Sachs. The firm has “Hold” rating by Northcoast given on Wednesday, April 11. As per Friday, February 23, the company rating was maintained by Deutsche Bank. The company was maintained on Thursday, April 26 by Barclays Capital. The firm earned “Buy” rating on Friday, May 4 by Deutsche Bank.

More notable recent Avis Budget Group, Inc. (NASDAQ:CAR) news were published by: which released: “Glenview Capital Enters AmerisourceBergen (ABC), Express Scripts (ESRX), T-Mobile (TMUS) (more…) -13F” on May 15, 2018, also with their article: “Shares of Avis Budget Group Inc. Drop 11.6% Despite Strong First Quarter” published on May 03, 2018, published: “Avis Budget Group Brings Connected Cars to Europe with Groupe PSA Partnership” on April 30, 2018. More interesting news about Avis Budget Group, Inc. (NASDAQ:CAR) were released by: and their article: “This Headwind Makes Avis Budget Group Inc. Stock Tricky to Handicap” published on April 26, 2018 as well as‘s news article titled: “Avis Opens Car Sales Locations, Offering Previously-Owned Vehicles at Competitive Prices” with publication date: May 09, 2018.

Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and clients worldwide. The company has market cap of $3.41 billion. The firm operates through two divisions, Americas and International. It has a 9.24 P/E ratio. It operates the Avis brand car rental system with approximately 5,550 locations that supply rental cars to the premium commercial and leisure divisions of the travel industry; the Budget brand vehicle rental system with approximately 4,050 car rental locations, which serve the value-conscious divisions of the industry; and the Zipcar brand, a membership car sharing network that provides vehicles to approximately 1 million members.

Avis Budget Group, Inc. (NASDAQ:CAR) Institutional Positions Chart

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