Insider Selling: Avis Budget Group EVP Michael K. Tucker Sells 1,500 Shares of Stock (CAR)
Avis Budget Group (NYSE:CAR) EVP Michael K. Tucker unloaded 1,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.94, for a total transaction of $98,910.00. Following the completion of the sale, the executive vice president now directly owns 42,381 shares in the company, valued at approximately $2,794,603. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.50.
Shares of Avis Budget Group (NYSE:CAR) opened at 68.14 on Monday. Avis Budget Group has a 1-year low of $26.57 and a 1-year 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 P/E ratio of 63.15.
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 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.
Avis Budget Group, Inc (NYSE:CAR) operates two brands in the global vehicle rental industry through Avis and Budget.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.