Avis Budget Group SVP Edward P. Linnen Sells 5,000 Shares (CAR)
Avis Budget Group (NYSE:CAR) SVP Edward P. Linnen unloaded 5,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $59.63, for a total transaction of $298,150.00. Following the sale, the senior vice president now directly owns 2,641 shares of the company’s stock, valued at approximately $157,483. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Avis Budget Group (NYSE:CAR) traded up 2.82% during mid-day trading on Friday, hitting $61.96. The stock had a trading volume of 1,306,309 shares. Avis Budget Group has a 1-year low of $26.57 and a 1-year high of $61.99. The stock has a 50-day moving average of $59.23 and a 200-day moving average of $51.81. 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. Traders bought 2,846 call options on the company. This represents an increase of 216% compared to the average volume of 901 call options.
Avis Budget Group (NYSE:CAR) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue 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.
CAR has been the subject of a number of recent research reports. 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 currently has an average rating of “Hold” and a consensus 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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