Avis Budget Group (NASDAQ:CAR) : The consensus price target for Avis Budget Group (NASDAQ:CAR) is $32 for the short term with a standard deviation of $8.74. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $44, however, the pessimist price target for the company is $20.
Avis Budget Group, Inc. has dropped 7.41% in the last five trading days, however, the shares have posted positive gains of 5.85% in the last 4 weeks. Avis Budget Group, Inc. is up 22.13% in the last 3-month period. Year-to-Date the stock performance stands at -11.19%. Also, Equity analysts at the Brokerage firm JP Morgan maintains its rating on Avis Budget Group (NASDAQ:CAR). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at JP Morgan lowers the price target from $26 per share to $24 per share. The rating by the firm was issued on May 5, 2016.
Avis Budget Group (NASDAQ:CAR) has an average broker rating of 2.14, which is interpreted as a Buy, as rated by 7 equity analysts. Nonetheless, 4 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.
Avis Budget Group (NASDAQ:CAR): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.91 and $30.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.23, notching a gain of 4.74% for the day. The total traded volume was 2,826,404 . The stock had closed at $30.77 on the previous day.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (President, International) of Avis Budget Group, Inc., Servodidio Mark J, had purchased 1,900 shares in a transaction dated on May 17, 2016. The transaction was executed at $26.26 per share with total amount equaling $49,894.
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.