Avis Budget Group Insider Thomas M. Gartland Sells 20,000 Shares (CAR)
Avis Budget Group (NYSE:CAR) Insider Thomas M. Gartland sold 20,000 shares of the 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 transaction, the insider now directly owns 60,649 shares of the company’s stock, valued at approximately $3,942,185. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Avis Budget Group (NYSE:CAR) opened at 68.14 on Monday. Avis Budget Group has a 52 week low of $26.57 and a 52 week high of $68.21. 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 $7.089 billion and a price-to-earnings ratio of 63.15.
Avis Budget Group (NYSE:CAR) last posted its quarterly earnings data 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 $2.97 EPS 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, 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Avis Budget Group presently has a consensus rating of “Hold” and an average price target 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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