AI Trading Ideas
AI Trading NYSE Mon, 15 May
Dear Reader,
Today’s featured asset is CAR: Avis Budget Group Inc. According to our AI strategy, if you had traded CAR between 2020-06-01 and 2023-02-15, you might have achieved a return of 960.42%. On average, a trade had a 73.88% return, held for 54.0 days and there were 13.0 positions taken throughout the period. Our model is predicting an upward trend in the following two weeks with an accuracy of 0.72 and the analyst consensus price target is 224.25. Thus, CAR is a STRONGBUY as of 2023-05-12 with a target price of 170.31.
Avis Budget Group Inc. is a leading provider of rental cars and car sharing services. Founded in 1946, the company has grown to become one of the largest rental car companies in the world, with over 11,000 locations in more than 180 countries and territories.
Avis Budget Group Inc. is committed to innovation, sustainability and digital transformation. In 2020, the company introduced a new, fully digital rental experience, allowing customers to complete rentals completely online, with no physical paperwork. They also expanded their digital car sharing platform, Zipcar, improving convenience for customers and reducing their environmental impact.
In 2021, Avis Budget Group Inc. announced the acquisition of U.S. car rental company Payless Car Rental, which marks the company’s largest acquisition to date. The move will bolster the company’s presence in the U.S. car rental market and help them reach more customers.
The company also recently launched their new Avis Business Solutions platform, which provides an integrated rental and car sharing solution for corporate customers. The platform provides access to a wide range of services such as fleet management, analytics and reporting, expense tracking and more.
Avis Budget Group Inc. continues to expand its presence in the car rental industry,
Avis Budget Group Inc (CAR) is a rental car company that operates in more than 11,000 locations in 180 countries. The company’s share price has fluctuated significantly over the past five years. On April 2nd, 2021, the stock closed at $45.07, up from $19.36 on April 3rd, 2016. Between April 2016 and April 2021, Avis Budget Group Inc experienced a 132.2% increase in its share price. In February 2021, the stock reached an all-time high of $48.99, an increase of 151.6% from the five-year low of $19.36. Since then, the stock has declined by 5.6%, closing at $45.07 on April 2nd, 2021.
Avis Budget Group Inc. is a leading provider of vehicle rental and car sharing services. The company has been in operation since 1982 and has experienced strong growth over the years.
In 2020, Avis Budget Group Inc. reported revenues of $9.1 billion, representing a 9.2% increase from the previous year. This was driven by a 10.9% increase in rental car revenues, a 5.5% increase in subscription services revenues, and a 4.1% increase in ancillary revenues. The company also saw its adjusted earnings before interest and taxes (EBIT) increase by 5.3% to $1.7 billion in 2020 compared to $1.6 billion in 2019.
Looking ahead, Avis Budget Group Inc. expects to continue to benefit from the growing travel and tourism industry. The company is looking to expand its operations in the coming years, including launching a car-sharing service in 2021 and expanding its international presence.
| Date | Symbol | Prediction | Model Accuracy | Price Target | Analyst Target |
|---|---|---|---|---|---|
| 2023-05-12 | CAR | STRONGBUY | 0.72 | 170.31 | 224.25 |
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