Avis Budget Group Insider Sells $1,300,000 in Stock (CAR)
Avis Budget Group (NYSE:CAR) Insider Thomas M. Gartland sold 20,000 shares of Avis Budget Group stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.00, for a total transaction of $1,300,000.00. Following the sale, the insider now directly owns 60,649 shares in the company, valued at approximately $3,942,185. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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, August 8th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Avis Budget Group in a research note on Wednesday, August 6th. 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, August 6th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $54.50.
Shares of Avis Budget Group (NYSE:CAR) traded up 1.92% during mid-day trading on Thursday, hitting $67.33. 1,528,627 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 $66.09. The stock’s 50-day moving average is $59.85 and its 200-day moving average is $52.42. The company has a market cap of $7.005 billion and a price-to-earnings ratio of 61.22.
Avis Budget Group (NYSE:CAR) last announced its 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 $2.97 earnings per share 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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