Avis Budget Group - CAR Stock Forecast, Price & News

Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers. It operates the Avis brand, that offers vehicle rental and other mobility solutions to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local, and one-way truck and cargo van rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 465 dealer-operated and 385 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network. The company also operates various other car rental brands, such as Budget, Payless, Apex, Maggiore, MoriniRent, FranceCars, Amicoblue, Turiscar, and ACL Hire. In addition, it offers optional insurance products and coverages, such as supplemental liability, personal accident, personal effects protection, emergency sickness protection, and automobile towing protection and cargo insurance products; fuel service options, roadside assistance services, electronic toll collection services, curbside delivery, tablet rentals, access to satellite radio, portable navigation units, and child safety seat rentals; automobile towing equipment and other moving accessories, such as hand trucks, furniture pads, and moving supplies; and Business Intelligence solution, an online portal for corporate travel. Avis Budget Group, Inc. operates in approximately 10,400 locations worldwide. The company was formerly known as Cendant Corporation and changed its name to Avis Budget Group, Inc. in September 2006. Avis Budget Group, Inc. was founded in 1946 and is headquartered in Parsippany, New Jersey.

Avis Budget Group Price Performance

CAR Stock traded up $0.38 during midday trading on Monday, reaching $189.45. 513,946 shares of the company were exchanged, compared to its average volume of 1,003,827. The business has a 50-day moving average price of $164.98 and a two-hundred day moving average price of $203.23. Avis Budget Group has a one year low of $85.68 and a one year high of $545.11. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 4.45 and a beta of 2.12.

Avis Budget Group (NASDAQ:CAR - Get Rating) last released its quarterly earnings data on Monday, August 1st. The business services provider reported $15.94 EPS for the quarter, topping analysts' consensus estimates of $11.48 by $4.46. Avis Budget Group had a net margin of 21.02% and a negative return on equity of 477.68%. The firm had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the previous year, the business posted $5.90 earnings per share. The company's revenue for the quarter was up 36.8% compared to the same quarter last year. As a group, analysts anticipate that Avis Budget Group will post 46.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAR. StockNews.com downgraded shares of Avis Budget Group from a "buy" rating to a "hold" rating in a report on Thursday, July 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Avis Budget Group from $184.00 to $229.00 in a research note on Wednesday, August 3rd. Morgan Stanley raised their target price on shares of Avis Budget Group from $140.00 to $150.00 and gave the company an "underweight" rating in a research note on Thursday, August 4th. Finally, Barclays decreased their target price on shares of Avis Budget Group from $223.00 to $158.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 5th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $193.40.

Insider Activity

In other Avis Budget Group news, Chairman Bernardo Hees bought 26,000 shares of Avis Budget Group stock in a transaction dated Wednesday, May 18th. The stock was bought at an average price of $189.90 per share, with a total value of $4,937,400.00. Following the completion of the transaction, the chairman now owns 422,142 shares in the company, valued at approximately $80,164,765.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Glenn Lurie sold 1,474 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $178.94, for a total value of $263,757.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bernardo Hees purchased 26,000 shares of the company's stock in a transaction that occurred on Wednesday, May 18th. The stock was bought at an average cost of $189.90 per share, with a total value of $4,937,400.00. Following the purchase, the chairman now owns 422,142 shares of the company's stock, valued at $80,164,765.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 83,734 shares of company stock valued at $14,792,435. 37.30% of the stock is owned by company insiders.