1 time Within The Past Five Days, Avis Budget Group Inc. (CAR) Hit A New High

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Avis Budget Group Inc. (NASDAQ:CAR) finished Wednesday with an addition of $0.31 to close at $150.31, an upside of 0.21 percent. An average of 1,391,700 shares of common stock have been traded in the last five days. There was a fall of -$16.65 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 1,143,670 shares traded, while the 50-day average volume stands at 910,352.

CAR stock has decreased by -8.47% in the last month. The company shares reached their 1-month lowest point of $144.26 on 09/19/22. With the stock rallying to its 52-week high on 04/21/22, shares of the company touched a low of $92.15 and a high of $545.11 in 52 weeks. It has reached a new high 7 times so far this year and lost -27.52% or -$57.06 in price. In spite of this, the price is down -72.43% from the 52-week high.


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Insider Transactions

50 days have passed since Avis Budget Group Inc. (CAR) last reported insider trading activity. Lurie Glenn, who is Director, most recently acquired $1,474 shares at $178.94 per share on Aug 03. In this transaction, the insider spent $263,758. Director, KROMINGA LYNN, disposed of 5,823 shares at a price of $187.50 on Mar 03. The insider now owns more than $1,091,812 worth of shares. Prior to that, Executive Chairman Hees Bernardo went on to Sale 43,389 shares at $275.06 each on Nov 17. An amount of $11,934,578 was transacted.

Valuation Metrics

Avis Budget Group Inc. (CAR) has a trailing price-to-earnings (P/E) ratio of 3.55. The stock’s beta is 2.14. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.71, and the price-to-cash flow ratio at 1.78.

Financial Health

The quick ratio of Avis Budget Group Inc. for the three months ended March 30 was 0.70, and the current ratio was 0.70, indicating that the company is not able to meet its debt obligations. Its gross profit as reported stood at $5.06 billion compared to revenue of $9.31 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Avis Budget Group Inc.’s return on assets was 10.10%.

Earnings Surprise

For the three-month period that ended March 30, Avis Budget Group Inc. had $4.62 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $778.0 million in the quarter, while revenues were grew 48.84%. The analyst consensus anticipated Avis Budget Group Inc.’s latest quarter earnings to come in at $3.45 per share, but it turned out to be $9.99, a 189.60% surprise. For the quarter, EBITDA amounted to $1.92 billion. Shareholders own equity worth $48.07 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Avis Budget Group Inc. (CAR) price momentum. RSI 9-day as of the close on 21 September was 37.65%, suggesting the stock is Neutral, with historical volatility in this time frame at 79.67%.

As of today, CAR’s price is $152.70 -9.97% or -$16.65 from its 5-day moving average. CAR is currently trading -13.19% lower than its 20-day SMA and -44.95% lower than its 100-day SMA. However, the stock’s current price level is -1.53% below the SMA50 and -42.46% below the SMA200.

The stochastic %K and %D were 21.80% and 20.02%, respectively, and the average true range (ATR) was 9.44. With the 14-day stochastic at 19.06% and the average true range at 9.42, the RSI (14) stands at 40.13%. The stock has reached -8.44 on the 9-day MACD Oscillator while the 14-day reading was at -8.24.

Analyst Ratings

Barclays upgraded Avis Budget Group Inc. (NASDAQ: CAR) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Avis Budget Group Inc. (CAR) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CAR, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is CAR’s price target for the next 12 months?

Analysts predict a range of price targets between $150.00 and $309.00, with a median target of $229.50. Taking a look at these predictions, the average price target given by analysts for Avis Budget Group Inc. (CAR) stock is $229.50.

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