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Avis Budget Group (CAR) provides car and truck rentals, and ancillary services to businesses and consumers worldwide. It supplies rental cars to the premium commercial and leisure segments of the travel industry under the Avis brand; and to the value-conscious segments of the industry under the Budget brand. The company operates or licenses the Avis car rental system that includes approximately 5,200 locations; and operates approximately 2,100 Avis car rental locations in on-airport and local rental markets; and operates or licenses the Budget vehicle rental system comprising approximately 3,050 car rental locations, and operates approximately 1,100 Budget car rental locations. It also operates local and one-way truck rental businesses, and operates a combined fleet of approximately 26,000 trucks, which are rented through a network of approximately 1,850 dealers and 300 company-operated locations in the continental United States serving the consumer and light commercial sectors. In addition, the company engages in the sale and rental of optional products and services, including loss damage waivers; insurance products, such as additional/supplemental liability insurance or personal accident/effects insurance; automobile towing equipment and other moving accessories consisting of hand trucks, furniture pads, and moving supplies; and products for driving convenience, such as where2 GPS navigation units, optional roadside assistance, fuel service options, and electronic toll collection, as well as other ancillary products and services comprising rental of satellite radio units and child safety seats. Its rental fleet comprises approximately 393,000 vehicles. We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares. Shares are heading higher in a bullish "flag" and are expected to move higher in this formation. The stock has a 52-week trading range of $8.45 - $16.97. Shares last traded at $15.36. Should you decide to take a position, wait for the morning volatility to wear off and use a stop-loss of $14.59 (five percentage points below your purchase price.) Be sure to use a limit order and not a market order. Keep in mind that our price target is 10% higher than your purchase price.
Hertz acuisition of DTG has lifted the whole sector today. CAR has had a good run so far and got a last minute boost today caused by Hertz. Stockwinners is closing out this position at $17.30. Make sure you adjust your stop-loss if desire to stay in this trade.
