Avis Budget Group (NASDAQ:CAR) has tumbled 2.56% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 17.12% in the last four weeks. The stocks have underperformed the S&P 500 by 1.39% during the past week but Avis Budget Group (NASDAQ:CAR) it has outperformed the index in 4 weeks by 16.05%.
Avis Budget Group (NASDAQ:CAR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.84 and $31.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.02, notching a gain of 1.11% for the day. The total traded volume was 1,916,899 . The stock had closed at $31.67 on the previous day.
The company shares have dropped -34.53% from its 1 Year high price. On Nov 2, 2015, the shares registered one year high at $53.04 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $28.39 and the 200 Day Moving Average price is recorded at $28.53.
On the companys insider trading activities, Servodidio Mark J, officer (President, International) of Avis Budget Group, Inc., executed a transaction worth $49,894 on May 17, 2016. A total of 1,900 shares were purchased at an average price of $26.26. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. JP Morgan maintains their rating on the shares of Avis Budget Group (NASDAQ:CAR). The current rating of the shares is Neutral. Equity Analysts at the Firm lowers the price target to $24 per share from $26 per share. The rating by the firm was issued on May 5, 2016. Currently the company Insiders own 2.8% of Avis Budget Group shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 0.75% . During last six month period, the net percent change held by insiders has seen a change of 22.7%.
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 Companys 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.