What are analysts'1-year price targets for Avis Budget Group stock?
5 brokerages have issued 1-year price targets for Avis Budget Group's shares. Their forecasts range from $168.00 to $225.00. On average, they anticipate Avis Budget Group's share price to reach $194.60 in the next year. This suggests a possible upside of 11.1% from the stock's current price.
Should you buy Avis Budget (car) stock?
Investors need to pay close attention to Avis Budget (CAR) stock based on the movements in the options market lately. Where Does The Smart Money Stand On Avis Budget Group Inc. (CAR)? Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings.
Who buys Avis Budget Group (ACS) stock?
Company insiders that have bought Avis Budget Group stock in the last two years include Bernardo Hees, Brian J Choi, F Robert Salerno, Srs Investment Management, Llc, and Veresh Sita. View insider buying and selling activity for Avis Budget Group or or view top insider-buying stocks.
Why is Avis Budget stock surging after Q3 results?
Car rental stock Avis Budget surged Tuesday after the company reported a stronger-than-expected third quarter that sparked massive trading volume. The company reported $10.74 in per-share earnings for the third quarter, beating a Refinitiv consensus estimate by more than $4. Revenue also topped expectations.
See more
Is Avis stock a good buy?
The company has licensees in approximately 175 countries throughout the world. CAR sits at a Zacks Rank #1 (Strong Buy), holds a Value Style Score of A, and has a VGM Score of A. Compared to the Business - Services industry's P/E of 14.9X, shares of Avis Budget Group are trading at a forward P/E of 5.9X.
Will Avis stock go up?
The 6 analysts offering 12-month price forecasts for Avis Budget Group Inc have a median target of 249.00, with a high estimate of 333.00 and a low estimate of 156.00. The median estimate represents a +64.99% increase from the last price of 150.92.
Why is Avis stock surging?
Rental car prices have ballooned in the past year, as car rental companies scramble to restock their vehicle inventories after selling off many of their cars during the pandemic. As a result, companies like Avis have been able to boost profits, which in turn has had a positive effect on its stock price.
Should I sell my Avis stock?
The consensus among Wall Street equities research analysts is that investors should "hold" Avis Budget Group stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CAR, but not buy additional shares or sell existing shares.
Is Avis stock overpriced?
In short, Avis Budget Group (NAS:CAR, 30-year Financials) stock shows every sign of being significantly overvalued. The company's financial condition is poor and its profitability is fair. Its growth ranks worse than 66% of the companies in Business Services industry.
Is Avis stock overvalued?
While the fundamentals of the business are stellar, the company's now overvalued, he said. Avis now has soared almost 4,500% since its pandemic low in March 2020 as the company benefited from a resumption of travel and a surge in the value of used cars.
How is Avis doing financially?
01, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. ( NASDAQ: CAR ) today announced its third quarter 2021 financial results. We ended the third quarter with revenues almost double the prior year and 9% above the third quarter 2019, at $3.0 billion.
Did Avis stock split?
Avis Budget Group (CAR) has 4 splits in our Avis Budget Group stock split history database. The first split for CAR took place on October 28, 1987.
Why did Avis stock skyrocket?
Car rental stock Avis Budget surged Tuesday after the company reported a stronger-than-expected third quarter that sparked massive trading volume. The company reported $10.74 in per-share earnings for the third quarter, beating a Refinitiv consensus estimate by more than $4. Revenue also topped expectations.
Why is Avis going down?
Avis Budget Group (CAR -5.1%) shares drop after Deutsche Bank and JPMorgan reiterated their Sell-equivalent ratings on the stock while recommending that investors purchase rival Hertz Global Holdings (HTZ +0.1%) instead.
About Avis Budget Group
Avis Budget Group (NASDAQ:CAR) Frequently Asked Questions
Avis Budget Group, Inc. engages in the provision of vehicle sharing and rental services. It operates through the Americas and International segments. The Americas segment licenses the company's brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America, and the Caribbean.
The car rental stock's plunge despite its best-ever quarter doesn't make much sense
5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Avis Budget Group in the last twelve months. There are currently 2 sell ratings and 3 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" Avis Budget Group stock.
What happened
A Fool since 2011, Neha has a keen interest in materials, industrials, and mining sectors. Her favorite pastime: Digging into 10Qs and 10Ks to pull out important information about a company and its operations that an investor may otherwise not know. Other days, you may find her decoding the big moves in stocks that catch her eye.
So what
After a heady rally in the first half of 2021, Avis Budget Group ( NASDAQ:CAR) stock suffered one of its worst declines so far this year on Wednesday, finishing the session down 16.6%.
Now what
Avis Budget reported its best quarter in history on the evening of Aug. 3. Here are some notable numbers from its earnings report (all changes year over year):
All-around earnings beat
There's some merit in Morgan Stanley's opinion: Avis Budget shares have, after all, more than doubled this year even after taking today's price drop into account. In mid-June, Morgan Stanley raised its price target on Avis Budget to $85 from $73 a share, citing a resurgence in travel and strong rental pricing.
Short selling target
On Monday, November 1, Avis delivered a solid all-around beat. Pre-earnings consensus estimate EPS of $6.68 looked very conservative against the $10.74 delivered. Reported revenues of $3 billion topped expectations by $224 million, pointing at growth of 96% and 9% from the third quarters of 2020 and 2019, respectively.
Wall Street bearishness
At least until prior to Q3 earnings day, Avis stock’s short interest was abnormally high. Yahoo Finance reports that 13.4 million shares are shorted out of a float of 49.2 million, for a ratio of 28%. Short interest above 10% is generally considered elevated.
Get more expert analysis on "stonks"
Expert consensus around CAR stock was bearish even before Tuesday’s overwhelming price spike. Avis stock still has a moderate sell rating and price target of $180. Before heading to the moon, shares were valued at around $170, slightly short of Wall Street’s average price target.