Avis Budget Group Inc (NASDAQ:CAR) price on Wednesday, November 13, rose 6.48% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $105.63.
A look at the stock’s price movement, the close in the last trading session was $99.20, moving within a range at $99.34 and $106.8. The beta value (5-Year monthly) was 2.137 while the PE ratio in trailing twelve months stood at 9.65. Turning to its 52-week performance, $202.50 and $65.73 were the 52-week high and 52-week low respectively. Overall, CAR moved 36.35% over the past month.
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Avis Budget Group Inc’s market cap currently stands at around $3.71 billion, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 2.72B for the company’s revenue for the quarter, with a low and high estimate of 2.68B and 2.77B respectively. The average forecast suggests down to a -1.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 11.8B, representing a -1.70% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CAR is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 4 recommend CAR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CAR’s current price about 19.83% and 25.43% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 70.40, while 7-day volatility ratio is 6.06% and 5.90% in the 30-day chart. Further, Avis Budget Group Inc (CAR) has a beta value of 2.18, and an average true range (ATR) of 5.45. Analysts have given the company’s stock an average 52-week price target of $155, forecast between a low of $105 and high of $248. Looking at the price targets, the low is 0.6% off current price level while to achieve the yearly target high, price needs to move -134.78%. Nonetheless, investors will most likely welcome a -46.74% jump to $155 which is the analysts’ median price.
If we refocus on Avis Budget Group Inc (NASDAQ:CAR), historical trading data shows that trading volumes averaged 0.98 over the past 10 days and 653.44K over the past 3 months. The company’s latest data on shares outstanding shows there are 35.00 million shares.
The 3.11% of Avis Budget Group Inc’s shares are in the hands of company insiders while institutional holders own 98.62% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.34 million on 2024-10-31, giving us a short ratio of 5.13. The data shows that as of 2024-10-31 short interest in Avis Budget Group Inc (CAR) stood at 2696.0 of shares outstanding, with shares short rising to 2.92 million registered in 2024-09-30. Current price change has pushed the stock -40.41% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CAR stock continues to rise going into the next quarter.
