Traders Buy High Volume of Avis Budget Group Call Options (CAR)

Avis Budget Group (NASDAQ:CAR) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 14,756 call options on the stock. This represents an increase of approximately 2,188% compared to the typical daily volume of 645 call options.

CAR opened at $48.21 on Thursday. The company has a debt-to-equity ratio of 22.33, a current ratio of 1.26 and a quick ratio of 1.26. Avis Budget Group has a twelve month low of $20.71 and a twelve month high of $50.88. The company has a market cap of $4,021.35, a PE ratio of 16.92 and a beta of 2.20.

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Avis Budget Group (NASDAQ:CAR) last released its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.25. Avis Budget Group had a net margin of 4.08% and a return on equity of 76.64%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. research analysts predict that Avis Budget Group will post 3.29 EPS for the current fiscal year.

CAR has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Avis Budget Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Goldman Sachs downgraded shares of Avis Budget Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.12 to $33.00 in a research note on Wednesday, February 14th. BidaskClub downgraded shares of Avis Budget Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 15th. Deutsche Bank upped their target price on shares of Avis Budget Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, ValuEngine upgraded shares of Avis Budget Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. Avis Budget Group has an average rating of “Buy” and a consensus target price of $39.64.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAR. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Avis Budget Group during the fourth quarter valued at approximately $171,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Avis Budget Group by 1,413.3% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,540 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 4,240 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Avis Budget Group by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 1,242 shares during the last quarter. Delpha Capital Management LLC purchased a new position in shares of Avis Budget Group during the fourth quarter valued at approximately $181,000. Finally, V Wealth Management LLC purchased a new position in shares of Avis Budget Group during the fourth quarter valued at approximately $227,000.

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About Avis Budget Group

Avis Budget Group, Inc, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. It operates the Avis brand, a vehicle rental system with approximately 5,450 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand, a vehicle rental and other mobility solutions primarily focuses on the value-conscious segments of the industry; the Zipcar brand, a membership-based car sharing network; and the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 19,000 vehicles, which are rented through a network of approximately 925 dealer-operated and 450 company-operated locations that serve the consumer and light commercial sectors in the continental United States.

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