Avis Budget Group Inc (NASDAQ:CAR) price on current trading day, fall -3.45% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $80.57.
A look at the stock’s price movement, the close in the last trading session was $83.45. Turning to its 52-week performance, $132.25 and $65.73 were the 52-week high and 52-week low respectively. Overall, CAR moved -9.75% over the past month.
Avis Budget Group Inc’s market cap currently stands at around $2.83 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 2.49B for the company’s revenue for the quarter, with a low and high estimate of 2.46B and 2.52B respectively. The average forecast suggests down to a -2.20% 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 11.98B, representing a 1.65% jump 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 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell 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 -9.55% and -7.76% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.46, while 7-day volatility ratio is 5.97% and 5.41% in the 30-day chart. Further, Avis Budget Group Inc (CAR) has a beta value of 2.37, and an average true range (ATR) of 4.72. Analysts have given the company’s stock an average 52-week price target of $105, forecast between a low of $105 and high of $105. Looking at the price targets, the low is -30.32% off current price level while to achieve the yearly target high, price needs to move -30.32%. Nonetheless, investors will most likely welcome a -30.32% jump to $105 which is the analysts’ median price.
If we refocus on Avis Budget Group Inc (NASDAQ:CAR), historical trading data shows that trading volumes averaged 617.48K over the past 3 months. The company’s latest data on shares outstanding shows there are 35.00 million shares.
The 3.21% of Avis Budget Group Inc’s shares are in the hands of company insiders while institutional holders own 101.62% of the company’s shares. Current price change has pushed the stock -0.05% 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.
