The stock of Avis Budget Group Inc. (NASDAQ:CAR) increased by $2.15 on Friday to finish at $231.19, up 0.94 percent. The last five days have seen an average of 587,460 shares of common stock traded. 16 times new highs were reached in the current year, with a gain of $67.26. The average number of shares traded over the last 20 days was 532,640, while the average volume over the last 50 days totaled 496,070.
CAR stock dropped -2.51% since last month. On 08/01/23, the company’s shares reached a one-month low of $203.74. The stock touched a high of $251.26 on 02/16/23, after rallying from a low of $131.83 in 52 weeks. The price of CAR stock has risen by 41.03% or $67.26 this year, reaching a new high 16 times. Still, the stock price is down -7.99% from the 52-week high.
Insider Transactions
CAR stock investors should be aware that Avis Budget Group Inc. (CAR) stock had its last reported insider trading activity 62 days ago on Jun 13. On Jun 13, President, International Rankin Patrick K sold 14,917 shares at $202.55 each. This transaction resulted in the insider making $3,021,438. On Feb 22, KROMINGA LYNN sold 887 shares at a price of US$226.30. After the transaction, the insider now owns 628 shares. EVP, Chief HR Officer Linnen Edward P had earlier sold 7,300 shares on Feb 15 for $242.58 a share. The transaction was completed for $1,770,834.
Valuation Metrics
Avis Budget Group Inc. (CAR) has a trailing price-to-earnings (P/E) ratio of 4.58. Beta for the stock is 2.40. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.74.
Company paid $0.1070 per share in dividends, remained unchanged from $0.1070 last year.
Financial Health
For the three months ended June 29, Avis Budget Group Inc.’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 53.60% percent. Avis Budget Group Inc.’s EBITDA margin for the year ended June 29 was 50.81%, whereas its operating margin stood at 22.40% for the same period. Based on annual data, it had gross profit of $6.71 billion and revenue of $11.99 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CAR’s return on assets (ROA) during the last 12 months has been 8.00%. There was a 13.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -493.90%.
Earnings Surprise
According to Avis Budget Group Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.12 billion, while revenues fell by -3.87% to $2.56 billion. It was predicted that Avis Budget Group Inc.’s quarterly earnings would be $11.01, but it ended up being $9.45, beating the consensus by 16.50%. EBITDA was $1.7 billion for the quarter. At the end of Avis Budget Group Inc.’s most recent quarter ended June 29, its liabilities totaled 31.52 billion, while its total debt was $25.06 billion. Equity owned by shareholders amounts to $38.74 million.
Technical Picture
Here’s a quick look at Avis Budget Group Inc.’s (CAR) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 61.10%, suggesting the stock is Neutral, with a 21.64% historical volatility rate.
The stochastic %K and %D were 85.13% and 76.94% respectively, while the average true range (ATR) was 7.24. Based on the 14-day stochastic reading of 86.05%, the RSI (14) reading is 58.55%. On the 9-day MACD Oscillator, the stock is at 2.25, and the 14-day reading is at 3.55.
Analyst Ratings
Avis Budget Group Inc. (NASDAQ: CAR) was downgraded by Deutsche Bank to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Avis Budget Group Inc. (CAR) an Overweight rating. CAR is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is CAR’s price target for the next 12 months?
The current consensus forecast for the stock is between $195.00 and $319.00, with a median target price of $260.00. In analyzing these forecasts, the average price target given by analysts for Avis Budget Group Inc. (CAR) is $255.80.
