Avis Budget Group Hits New 12-Month High at $69.76 (CAR)
Avis Budget Group (NYSE:CAR)’s share price hit a new 52-week high during mid-day trading on Monday , American Banking & Market News reports. The company traded as high as $69.76 and last traded at $69.14, with a volume of 688,414 shares changing hands. The stock had previously closed at $68.14.
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, 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 given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.50.
The stock’s 50-day moving average is $60.38 and its 200-day moving average is $52.75. The company has a market cap of $7.237 billion and a P/E ratio of 63.15.
Avis Budget Group (NYSE:CAR) last released its 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 $2.97 earnings per share for the current fiscal year.
In other Avis Budget Group news, EVP Michael K. Tucker sold 1,500 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.94, for a total transaction of $98,910.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
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