Avis Budget Group Target of Unusually High Options Trading (CAR)
Avis Budget Group (NYSE:CAR) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 2,846 call options on the stock, ARN reports. This represents an increase of approximately 216% compared to the typical daily volume of 901 call options.
CAR has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Tuesday, June 10th. They now have a $58.00 price target on the stock, up previously from $53.00. Separately, analysts at Zacks upgraded shares of Avis Budget Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $61.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Avis Budget Group from $42.00 to $46.00 in a research note on Monday, May 12th. They now have an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $51.00.
Shares of Avis Budget Group (NYSE:CAR) traded up 2.58% during mid-day trading on Tuesday, hitting $59.62. The stock had a trading volume of 2,513,477 shares. Avis Budget Group has a one year low of $26.57 and a one year high of $61.95. The stock’s 50-day moving average is $58.97 and its 200-day moving average is $51.48. The company has a market cap of $6.284 billion and a price-to-earnings ratio of 97.85.
Avis Budget Group (NYSE:CAR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.74. The company had revenue of $2.20 million for the quarter, compared to the consensus estimate of $40.75 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Avis Budget Group will post $2.88 EPS for the current fiscal year.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
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