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Wednesday, January 19, 2022

The Unprecedented Rise of Avis Budget Group Inc. (CAR)

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Many stocks have been testing new highs in 2020, and one of the most notable is Avis Budget Group Inc. (CAR). Currently, CAR is trading at $32.28 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $28.33.

To add more color to this target, the company’s high over the last year is $52.98 and the low is $6.35. Over the last 52 weeks, CAR is down -39.07% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CAR reported a profit of $695.0 million. Avis Budget Group Inc. also saw revenues increase to $1.75 billion. In addition, CAR has free cash flow of $327.0 million as of 03-2020 The company’s EBITDA came in at $638.0 million which compares well with its peers.

CAR booked profit margins of 2.60%, its Return on Equity (ROE) is 51.70%, and its Return on Assets is 1.00%. All told, it is clear that, CAR needs to be on your watchlist.

About Avis Budget Group Inc.

If readers are unfamiliar, Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental businesses with a fleet of approximately 20,000 vehicles, which are rented through a network of approximately 575 dealer-operated and 420 company-operated locations that serve the consumer and light commercial sectors in the continental United States; and the Zipcar brand, a car sharing network. The company also operates various other car rental brands, such as Payless, Apex, Maggiore, Morini Rent, FranceCars, and Turiscar. In addition, it offers optional insurance products and coverages, such as supplemental liability, personal accident, personal effects protection, emergency sickness protection, and cargo insurance products; fuel service options, chauffeur drive services, roadside assistance services, electronic toll collection services, curbside delivery, tablet rentals, access to satellite radio, portable navigation units, and child safety seat rentals; automobile towing equipment and other moving accessories, such as hand trucks, furniture pads, and moving supplies; and Business Intelligence solution, an online portal for corporate travel. Avis Budget Group, Inc. operates in approximately 5,500 locations worldwide. The company was formerly known as Cendant Corporation and changed its name to Avis Budget Group, Inc. in September 2006. Avis Budget Group, Inc. was founded in 1946 and is headquartered in Parsippany, New Jersey.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CAR has a short ratio of 3.11 and outstanding shares of 72.90M.

Company Outlook

CAR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 10.82 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 3.06. Avis Budget Group Inc. CAR also noted assets of $23.55 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CAR has historically followed its peers on positive news.

All told, Avis Budget Group Inc. CAR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CAR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Avis Budget Group Inc. CAR is now commanding a market cap of 2.35B and a float of 68.31M. CAR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CAR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CAR, either long or short, and we have not been compensated for this article.

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