Is Avis Budget Group Inc. (NASDAQ: CAR) On Track To Post A -117.68% Or More Growth? – Marketing Sentinel
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Is Avis Budget Group Inc. (NASDAQ: CAR) On Track To Post A -117.68% Or More Growth?

During the last session, Avis Budget Group Inc. (NASDAQ:CAR)’s traded shares were 0.93 million, with the beta value of the company hitting 2.03. At the end of the trading day, the stock’s price was $152.98, reflecting an intraday loss of -4.29% or -$6.86. The 52-week high for the CAR share is $545.11, that puts it down -256.33 from that peak though still a striking 56.94% gain since the share price plummeted to a 52-week low of $65.87. The company’s market capitalization is $7.37B, and the average intraday trading volume over the past 10 days was 1.05 million shares, and the average trade volume was 1.00 million shares over the past three months.

Avis Budget Group Inc. (CAR) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. CAR has a Sell rating from 1 analyst(s) out of 7 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $8.48.

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

Avis Budget Group Inc. (CAR) registered a -4.29% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.29% in intraday trading to $152.98 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -4.57%, and it has moved by -12.42% in 30 days. Based on these gigs, the overall price performance for the year is 91.01%. The short interest in Avis Budget Group Inc. (NASDAQ:CAR) is 5.57 million shares and it means that shorts have 5.93 day(s) to cover.

The consensus price target of analysts on Wall Street is $245.00, which implies an increase of 37.56% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $156.00 and $333.00 respectively. As a result, CAR is trading at a discount of -117.68% off the target high and -1.97% off the low.

Avis Budget Group Inc. (CAR) estimates and forecasts

Statistics show that Avis Budget Group Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Avis Budget Group Inc. (CAR) shares have gone down -28.12% during the last six months, with a year-to-date growth rate more than the industry average at 74.70% against 14.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 43.70% this quarter and then drop -3.60% in the quarter after that. In the rating firms’ projections, revenue will increase 18.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.76 billion as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $3.06 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.05 billion and $2.71 billion respectively. In this case, analysts expect current quarter sales to grow by 34.70% and then jump by 12.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 61.90%. While earnings are projected to return 300.40% in 2022, the next five years will return 19.40% per annum.

CAR Dividends

Avis Budget Group Inc. is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Avis Budget Group Inc. insiders own 1.65% of total outstanding shares while institutional holders control 119.51%, with the float percentage being 121.52%. Srs Investment Management, Llc is the largest shareholder of the company, while 413 institutions own stock in it. As of Dec 30, 2021, the company held over 18.43 million shares (or 38.17% of all shares), a total value of $3.82 billion in shares.

The next largest institutional holding, with 7.73 million shares, is of FMR, LLC’s that is approximately 16.01% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $1.6 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Avis Budget Group Inc. (CAR) shares are Fidelity Growth Company Fund and iShares Core S&P Midcap ETF. Data provided on Feb 27, 2022 indicates that Fidelity Growth Company Fund owns about 2.68 million shares. This amounts to just over 5.55 percent of the company’s overall shares, with a $491.25 million market value. The same data shows that the other fund manager holds slightly less at 1.11 million, or about 2.30% of the stock, which is worth about $195.99 million.

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