Avis Budget Group CFO David B. Wyshner Unloads 20,000 Shares (CAR)
Avis Budget Group (NYSE:CAR) CFO David B. Wyshner sold 20,000 shares of Avis Budget Group stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $59.18, for a total transaction of $1,183,600.00. Following the sale, the chief financial officer now directly owns 91,253 shares of the company’s stock, valued at approximately $5,400,353. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Avis Budget Group (NYSE:CAR) traded up 2.82% on Friday, hitting $61.96. 1,306,309 shares of the company’s stock traded hands. Avis Budget Group has a 52 week low of $26.57 and a 52 week high of $61.95. The stock’s 50-day moving average is $59.13 and its 200-day moving average is $51.74. The company has a market cap of $6.446 billion and a P/E ratio of 55.85. Avis Budget Group also saw unusually large options trading on Tuesday. Investors bought 2,846 call options on the company. This is an increase of 216% compared to the average volume of 901 call options.
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. On average, analysts predict that Avis Budget Group will post $2.96 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Avis Budget Group from $28.00 to $30.00 in a research note on Friday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Wednesday. They now have a $60.00 price target on the stock, up previously from $58.00. Finally, analysts at MKM Partners raised their price target on shares of Avis Budget Group from $75.00 to $80.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $54.50.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
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