Avis Budget Group Inc. (NASDAQ:CAR) Shares Plunged -0.89% In A Week – But Can It Maintain Its Gains? – Marketing Sentinel
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Avis Budget Group Inc. (NASDAQ:CAR) Shares Plunged -0.89% In A Week – But Can It Maintain Its Gains?

In last trading session, Avis Budget Group Inc. (NASDAQ:CAR) saw 0.56 million shares changing hands with its beta currently measuring 2.07. Company’s recent per share price level of $195.31 trading at $3.39 or 1.77% at ring of the bell on the day assigns it a market valuation of $11.19B. That closing price of CAR’s stock is at a discount of -179.1% from its 52-week high price of $545.11 and is indicating a premium of 81.0% from its 52-week low price of $37.11. Taking a look at company’s average trading volume of 1.81 million if we extend that period to 3-months.

For Avis Budget Group Inc. (CAR), analysts’ consensus is at an average recommendation of an Underweight while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 7 analysts covering the stock, 3 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $5.93 in the current quarter.

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Avis Budget Group Inc. (NASDAQ:CAR) trade information

Upright in the green during last session for gaining 1.77%, in the last five days CAR remained trading in the red while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $195.31 price level, adding 3.19% to its value on the day. Avis Budget Group Inc.’s shares saw a change of -5.82% in year-to-date performance and have moved -0.89% in past 5-day. Avis Budget Group Inc. (NASDAQ:CAR) showed a performance of -13.79% in past 30-days.

Wall Street analysts have assigned a consensus price target of $235.83 to the stock, which implies a rise of 17.18% to its current value. Analysts have been projecting $170.00 as a low price target for the stock while placing it at a high target of $333.00. It follows that stock’s current price would drop -70.5% in reaching the projected high whereas dropping to the targeted low would mean a gain of 12.96% for stock’s current value.

Avis Budget Group Inc. (CAR) estimates and forecasts

Statistics highlight that Avis Budget Group Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 184.13% of value to its shares in past 6 months, showing an annual growth rate of 459.90% while that of industry is 12.40. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 1,747.20% in the current quarter and calculating 482.60% increase in the next quarter. This year revenue growth is estimated to rise 67.10% from the last financial year’s standing.

5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.34 billion for the same. And 2 analysts are in estimates of company making revenue of $2.02 billion in the next quarter that will end on Mar 2022. Company posted $1.35 billion and $1.37 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 73.00% while estimating it to be 47.60% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -39.40% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -343.20% while estimates for its earnings growth in next 5 years are of 27.50%.

CAR Dividends

Avis Budget Group Inc. is more likely to be releasing its next quarterly report between February 14 and February 18 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Avis Budget Group Inc. (NASDAQ:CAR)’s Major holders

Insiders are in possession of 1.59% of company’s total shares while institution are holding 117.96 percent of that, with stock having share float percentage of 119.86%. Investors also watch the number of corporate investors in a company very closely, which is 117.96% institutions for Avis Budget Group Inc. that are currently holding shares of the company. Srs Investment Management, Llc is the top institutional holder at CAR for having 18.43 million shares of worth $2.15 billion. And as of Sep 29, 2021, it was holding 32.65% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 8.98 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 15.90% of outstanding shares, having a total worth of $1.05 billion.

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On the other hand, Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 3.14 million shares of worth $544.42 million or 5.57% of the total outstanding shares. The later fund manager was in possession of 1.33 million shares on Sep 29, 2021, making its stake of worth around $154.67 million in the company or a holder of 2.35% of company’s stock.

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