November 30, 2016 - By Peter Erickson · 0 Comments
Avis Budget Group Inc (NASDAQ:CAR) institutional sentiment increased to 1.06 in 2016 Q2. Its up 0.23, from 0.83 in 2016Q1. The ratio is better, as 90 hedge funds opened new and increased positions, while 109 trimmed and sold stakes in Avis Budget Group Inc. The hedge funds in our partner’s database now have: 95.80 million shares, down from 99.49 million shares in 2016Q1. Also, the number of hedge funds holding Avis Budget Group Inc in their top 10 positions increased from 5 to 7 for an increase of 2. Sold All: 33 Reduced: 76 Increased: 53 New Position: 37.
Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The company has a market cap of $3.32 billion. The Firm operates three brands, which include Avis, Budget and Zipcar. It has a 18.45 P/E ratio. Avis is a rental car supplier and Budget is a rental vehicle supplier.
About 496,185 shares traded hands. Avis Budget Group Inc. (NASDAQ:CAR) has risen 50.59% since April 27, 2016 and is uptrending. It has outperformed by 45.36% the S&P500.
Analysts await Avis Budget Group Inc. (NASDAQ:CAR) to report earnings on February, 28. They expect $0.21 EPS, up 16.67% or $0.03 from last year’s $0.18 per share. CAR’s profit will be $18.20 million for 45.60 P/E if the $0.21 EPS becomes a reality. After $2.47 actual EPS reported by Avis Budget Group Inc. for the previous quarter, Wall Street now forecasts -91.50% negative EPS growth.
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”
Srs Investment Management Llc holds 8.82% of its portfolio in Avis Budget Group Inc. for 9.00 million shares. Mountain Lake Investment Management Llc owns 300,000 shares or 5.83% of their US portfolio. Moreover, Philadelphia Financial Management Of San Francisco Llc has 3.62% invested in the company for 489,161 shares. The Massachusetts-based Brookside Capital Management Llc has invested 3.31% in the stock. Tremblant Capital Group, a New York-based fund reported 1.59 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 11 insider sales for $7.23 million net activity.
Ratings analysis reveals 71% of Avis Budget’s analysts are positive. Out of 7 Wall Street analysts rating Avis Budget, 5 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $29 while the high is $63.0. The stock’s average target of $38.57 is 0.70% above today’s ($38.3) share price. CAR was included in 19 notes of analysts from August 5, 2015. As per Tuesday, March 22, the company rating was initiated by Sterne Agee CRT. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, February 22 report. The stock has “Outperform” rating given by Credit Suisse on Tuesday, April 12. The company was initiated on Friday, August 26 by Macquarie Research. The firm has “Buy” rating by Deutsche Bank given on Thursday, August 4. The stock has “Buy” rating given by M Partners on Monday, December 14. The stock of Avis Budget Group Inc. (NASDAQ:CAR) has “Equal-Weight” rating given on Thursday, February 25 by Barclays Capital. Barclays Capital maintained the shares of CAR in a report on Wednesday, August 10 with “Equal-Weight” rating. The firm earned “Equal Weight” rating on Wednesday, August 5 by Barclays Capital. Credit Suisse maintained Avis Budget Group Inc. (NASDAQ:CAR) rating on Thursday, February 25. Credit Suisse has “Outperform” rating and $38 price target.
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: Nasdaq.com which released: “Avis Budget Group Reaches Analyst Target Price” on November 07, 2016. Also Globenewswire.com published the news titled: “Avis Budget Group Increases Its Stock Repurchase Program” on November 14, 2016. Fool.com‘s news article titled: “Why Shares of Avis Budget Group Are Surging Today” with publication date: November 03, 2016 was also an interesting one.
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By Peter Erickson