Avis Budget Group’s Stock Up On Rental Demand, Will It Sustain?

by Trefis Team
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Avis Budget Group’s stock (NASDAQ: CAR) rose by 26% in the last twenty-one trading days. In comparison, the broader S&P500 index declined by 0.5% over the same period. The car rental company’s stock saw an uptick in the past couple of months as car rental demand increased with the vaccinated population starting to go for a vacation or a small trip. The stock saw a sudden surge in mid-September after Bank of America’s analyst upped their recommendation on the stock to buy from the previous neutral. Now, is CAR stock poised to grow? Based on our machine learning analysis of trends in the stock price over the last ten years, there is a 57% chance of a rise in CAR stock over the next month (twenty-one trading days). See our analysis on Avis Budget Group’s Stock Chance Of Rise for more details.

Five Days: CAR 18%, vs. S&P500 2.3%; Overperformed market

(3% event probability)

  • Avis Budget Group’s stock rose 18% over a five day trading period ending 9/24/2021, compared to the broader market (S&P500) which rose by 2.3%
  • A change of 18% or more over five trading days has a 3% event probability, which has occurred 69 times out of 2517 in the last ten years

Ten Days: CAR 24%, vs. S&P500 -0.6%; Overperformed market

(3% event probability)

  • Avis Budget Group’s stock rose 24% over the last ten trading days (two weeks), compared to the broader market (S&P500) fall of 0.6%
  • A change of 24% or more over ten trading days has a 3% event probability, which has occurred 71 times out of 2517 in the last ten years

Twenty-One Days: CAR 26%, vs. S&P500 -0.5%; Overperformed market

(6% event probability)

  • Avis Budget Group’s stock rose 26% over the last twenty-one trading days (one month), compared to the broader market (S&P500) fall of 0.5%
  • A change of 26% or more over twenty-one trading days has a 6% event probability, which has occurred 151 times out of 2515 in the last ten years

While Avis Budget Group stock is likely to move higher in the near term, there are several peers in its sector that look like a Better Bet Than CAR Stock. Also, Avis Budget Group Peer Comparisons summarizes how the company fares against peers on metrics that matter.

 

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