Avis Budget Group (CAR) is Initiated by Macquarie to Outperform, Price Target at $44

Avis Budget Group (CAR) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $44. Macquarie advised their investors in a research report released on Aug 26, 2016.

On the company’s financial health, Avis Budget Group reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.71. The company had revenue of $2243.00 million for the quarter, compared to analysts expectations of $2214.71 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Avis Budget Group opened for trading at $37.26 and hit $37.92 on the upside on Tuesday, eventually ending the session at $37.13, with a gain of 0.22% or 0.08 points. The heightened volatility saw the trading volume jump to 6,87,060 shares. Company has a market cap of $3,371 M.

In a different news, on Aug 25, 2016, Edward P Linnen (EVP, Chief HR Officer) sold 4,000 shares at $36.69 per share price. According to the SEC, on Aug 18, 2016, David B Wyshner (President & CFO) sold 20,000 shares at $36.27 per share price. On Aug 8, 2016, Michael K Tucker (EVP and General Counsel) sold 6,656 shares at $37.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands which include Avis Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Company also own Payless a car rental brand and Apex which is a car rental brand in New Zealand and Australia. The Company operates in three segments: North America International and Truck Rental. North America segment provides car rentals in the United States and vehicle rentals in Canada as well as ancillary products and services. International segment provides and licenses the Company’s brands to third parties for vehicle rentals and ancillary products in Europe the Middle East Africa Asia South America Central America the Caribbean Australia and New Zealand. Truck Rental segment provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

Avis Budget Group

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