Today’s Price Action: Avis Budget Group Inc. Can’t Burn Your Long Portfolio. Has Another Strong Session

Today's Price Action: Avis Budget Group Inc. Can't Burn Your Long Portfolio. Has Another Strong Session

The stock of Avis Budget Group Inc. (NASDAQ:CAR) is a huge mover today! About 1.01 million shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 15.67% since March 7, 2016 and is uptrending. It has outperformed by 8.07% the S&P500.
The move comes after 9 months positive chart setup for the $2.95 billion company. It was reported on Oct, 10 by Barchart.com. We have $51.45 PT which if reached, will make NASDAQ:CAR worth $1.56 billion 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 $206.14 million for 3.58 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 6 analysts covering Avis Budget (NASDAQ:CAR), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Avis Budget has been the topic of 18 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Buy” on Thursday, August 4. On Monday, December 14 the stock rating was maintained by M Partners with “Buy”. The firm has “Equal Weight” rating by Barclays Capital given on Wednesday, August 5. The rating was maintained by Barclays Capital on Thursday, February 25 with “Equal-Weight”. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Equal-Weight” rating given on Wednesday, August 10 by Barclays Capital. As per Wednesday, November 4, the company rating was downgraded by JP Morgan. The rating was maintained by Barclays Capital on Tuesday, September 27 with “Equal Weight”. On Tuesday, March 22 the stock rating was initiated by Sterne Agee CRT with “Buy”. Macquarie Research initiated Avis Budget Group Inc. (NASDAQ:CAR) on Friday, August 26 with “Outperform” rating. The firm has “Equal Weight” rating given on Monday, November 16 by Barclays Capital.

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 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.
Ascend Capital Limited Co reported 539,112 shares or 1.14% of all its holdings. Blackrock accumulated 0% or 96,649 shares. Utah Retirement holds 0.01% or 15,200 shares in its portfolio. Rs Inv Management Com Limited Liability Co last reported 0.37% of its portfolio in the stock. Baupost Grp Ltd Llc Ma owns 1.79M shares or 0.78% of their US portfolio. Cornerstone Management Hldgs Ltd Liability reported 50,200 shares or 0.01% of all its holdings. Ubs Asset Mngmt Americas holds 0.01% or 173,145 shares in its portfolio. Ibm Retirement Fund owns 8,445 shares or 0.01% of their US portfolio. Neuberger Berman Group Inc Ltd Company owns 2.07M shares or 0.09% of their US portfolio. Moreover, Brandywine Invest Mgmt Ltd has 0% invested in Avis Budget Group Inc. (NASDAQ:CAR) for 2,509 shares. Invesco Limited reported 211,510 shares or 0% of all its holdings. Rhumbline Advisers accumulated 0.01% or 85,644 shares. Hbk Invests Lp holds 0.03% of its portfolio in Avis Budget Group Inc. (NASDAQ:CAR) for 96,500 shares. Jpmorgan Chase And reported 36,890 shares or 0% of all its holdings. Voloridge Invest Management Ltd Liability accumulated 0.03% or 37,189 shares.

Insider Transactions: Since May 5, 2016, the stock had 1 insider buy, and 9 selling transactions for $15.82 million net activity. $250,598 worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by Tucker Michael K on Thursday, August 4. Another trade for 4,000 shares valued at $146,760 was sold by Linnen Edward P. $12.70M worth of shares were sold by SRS Investment Management – LLC on Thursday, May 5. $28,332 worth of shares were sold by Hardy John D. Jr. on Thursday, August 4. 2,368 shares were sold by Sweeney Stender E, worth $60,668. $1.90M worth of Avis Budget Group Inc. (NASDAQ:CAR) was sold by NELSON RONALD L on Friday, September 16. 20,000 shares were sold by Wyshner David B, worth $725,400 on Wednesday, August 17.

More recent Avis Budget Group Inc. (NASDAQ:CAR) news were published by: Globenewswire.com which released: “Avis Budget Group Announces Closing of €300 Million Senior Notes Offering” on September 26, 2016. Also Fool.com published the news titled: “Why Avis Budget Group, Depomed, and Community Health Systems Jumped Today” on September 16, 2016. Globenewswire.com‘s news article titled: “Avis Budget Group Agrees to Acquire France Cars” with publication date: September 14, 2016 was also an interesting one.

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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