Avis Budget Group Stock Falls On Unusually High Volume (CAR)
Avis Budget Group (Nasdaq:CAR) is trading at unusually high volume Thursday with 8.1 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down $1.95 (-13.4%).
NEW YORK ( TheStreet) -- Avis Budget Group (Nasdaq: CAR) is trading at unusually high volume Thursday with 8.1 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down $1.95 (-13.4%) at $12.64 as of 2:05 p.m. ET. Avis Budget Group has a market cap of $1.48 billion and is part of the services sector and diversified services industry. Shares are up 36.1% year to date as of the close of trading on Wednesday. Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, and ancillary services to businesses and consumers. The company has a P/E ratio of 15.1, above the average diversified services industry P/E ratio of 14.7 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Avis Budget Group as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and generally poor debt management. You can view the full Avis Budget Group Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.