Avis Budget Group Inc. (NASDAQ: CAR) is 46.11% higher on its value in year-to-date trading and has touched a low of $6.35 and a high of $52.55 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CAR stock was last observed hovering at around $50.50 in the last trading session, with the day’s gains setting it 4.0% off its average median price target of $50.00 for the next 12 months. It is also 27.33% off the consensus price target high of $75.00 offered by 8 analysts, but current levels are -55.71% lower than the price target low of $35.00 for the same period.
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Currently trading at $54.50, the stock is 24.96% and 35.75% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.43 million and changing 7.92% at the moment leaves the stock 70.33% off its SMA200. CAR registered 23.44% gain for a year compared to 6-month gain of 68.52%. The firm has a 50-day simple moving average (SMA 50) of $41.67 and a 200-day simple moving average (SMA200) of $35.85.
The stock witnessed a 32.76% loss in the last 1 month and extending the period to 3 months gives it a 51.60%, and is 19.26% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.05% over the week and 7.98% over the month.
Avis Budget Group Inc. (CAR) has around 20000 employees, a market worth around $3.44B and $5.40B in sales. Fwd P/E is 14.69. Profit margin for the company is -12.70%. Distance from 52-week low is 758.27% and 3.71% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.70%).
Avis Budget Group Inc. (CAR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Avis Budget Group Inc. (CAR) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.10, where 4 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Avis Budget Group Inc. is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at -$2.48 with sales reaching $1.13B over the same period.The EPS is expected to shrink by -343.20% this year, but quarterly earnings will post 24.00% year-over-year. Quarterly sales are estimated to shrink -35.30% in year-over-year returns.
Avis Budget Group Inc. (CAR) Top Institutional Holders
317 institutions hold shares in Avis Budget Group Inc. (CAR), with 1.27M shares held by insiders accounting for 1.81% while institutional investors hold 103.63% of the company’s shares. The shares outstanding are 69.60M, and float is at 68.42M with Short Float at 13.98%. Institutions hold 101.75% of the Float.
The top institutional shareholder in the company is Srs Investment Management, Llc with over 18.43 million shares valued at $687.47 million. The investor’s holdings represent 26.39% of the CAR Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 6.56 million shares valued at $244.67 million to account for 9.39% of the shares outstanding. The other top investors are Nomura Holdings Inc. which holds 5.15 million shares representing 7.37% and valued at over $191.99 million, while Vanguard Group, Inc. (The) holds 6.66% of the shares totaling 4.65 million with a market value of $173.62 million.
Avis Budget Group Inc. (CAR) Insider Activity
A total of 42 insider transactions have happened at Avis Budget Group Inc. (CAR) in the last six months, with sales accounting for 9 and purchases happening 33 times. The most recent transaction is an insider purchase by Choi Brian J, the company’s EVP & Chief Financial Officer. SEC filings show that Choi Brian J bought 23,735 shares of the company’s common stock on Feb 19 at a price of $45.88 per share for a total of $1.09 million. Following the purchase, the insider now owns 23735.0 shares.
Avis Budget Group Inc. disclosed in a document filed with the SEC on Dec 11 that SRS Investment Management, LLC (Director) bought a total of 9,200 shares of the company’s common stock. The trade occurred on Dec 11 and was made at $38.88 per share for $0.36 million. Following the transaction, the insider now directly holds 18.43 million shares of the CAR stock.
Still, SEC filings show that on Dec 10, SRS Investment Management, LLC (Director) acquired 600 shares at an average price of $38.38 for $23028.0. The insider now directly holds 18,421,682 shares of Avis Budget Group Inc. (CAR).
Avis Budget Group Inc. (CAR): Who are the competitors?
The company’s main competitors (and peers) include AMERCO (UHAL) that is 62.57% higher over the past 12 months. Short interest in the company’s stock has fallen -25.91% from the last report on Dec 30, 2020 to stand at a total of 12.05 million short shares sold with a short interest ratio of 7.01.