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CAR

Avis Budget

$35.87

-0.82 (-2.23%)

15:55
04/25/19
04/25
15:55
04/25/19
15:55

Avis Budget put volume heavy and directionally bearish

Bearish flow noted in Avis Budget with 1,435 puts trading, or 1.0x expected. Most active are May-19 30 puts and Aug-19 32 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 2.89, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 1st.

  • 02

    May

  • 22

    May

CAR Avis Budget
$35.87

-0.82 (-2.23%)

10/16/18
10/16/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NEEDHAM SAYS BUY TAPESTRY: Needham analyst Rick Patel upgraded Tapestry to Buy from Hold and kept his $50 price target. The analyst notes that after a 14% selloff in the stock price driven by tariff-related concerns and the slowdown of Asia sales at LVMH, the risk-reward is favorable. Patel estimates that the hit to EPS from the impact of the handbag tariff should be "relatively modest" at about 1%. The analyst further notes that Tapestry has "ample white space" for long term growth in China through new distribution, while its North America sales indicate "well-controlled promotions" for Coach and Kate Spade. ANALYSTS SAY BUY FACEBOOK IN NEW INITIATIONS: Loop Capital analyst Alan Gould initiated Facebook with a Buy rating and a price target of $210, saying the stock is valued "quite attractively" after a "strong year financially and a challenging year operationally". The analyst also notes that the company's guidance is likely "conservative" given the company's propensity to beat consensus estimates. Meanwhile, Rosenblatt analyst Mark Zgutowicz started Facebook with a Buy rating in a note partially entitled "Facebook: Value, Not Trap." Given the stock's current valuation, there appears to be little confidence consensus expectations will be met and he is "in that camp," forecasting calendar 2019 EPS that is about 8% below consensus, Zgutowicz tells investors. However, with that said, he sees the anticipated EPS shortfall as priced in the shares and would be a buyer of the stock in front of the Q3 report, stating that he sees a bottoming for News Feed fatigue and enough light ahead with new product innovation and Instagram and Watch optionality. Zgutowicz set a $213 price target on Facebook shares. TILRAY TARGET SET AT $200 AS CANADA GETS READY TO LEGALIZE: Benchmark analyst Mike Hickey initiated coverage of Tilray with a Buy rating and $200 price target, citing its early leadership in the medical cannabis market in Canada and the upcoming legalization of recreational cannabis, which begins in the North American nation tomorrow. He believes the company's strategic alliance with Novartis (NVS) and supply agreements with Canadian pharmacies that give Tilray a competitive edge in the Canadian medical cannabis market, Hickey tells investors. He also believes the potential international opportunity is "enormous," estimating that the global cannabis market opportunity could exceed $200B over the long-term. JEFFERIES SEES NO COMPETING BIDS FOR PINNACLE: Jefferies analyst Akshay Jagdale downgraded Pinnacle Foods (PF) to Hold from Buy and lowered his price target for the shares to $68 from $72. The analyst assumes Conagra Brands' (CAG) bid to buy the company for $68 will go through without any competing bids. The stock should trade in line with its $68 transaction price until completion of the deal, Jagdale tells investors. GOLDMAN PREDICTS AVIS, HERTZ OUTLOOKS WILL DISAPPOINT: Goldman Sachs analyst David Tamberrino nudged the price target on Avis Budget (CAR) lower to $30 from $31 while keeping the price target on Hertz at $13 as part of his broader research note previewing Q3 results for the two Sell-rated U.S. car rental names. The analyst notes that Hertz (HTZ) may top Q3 consensus earnings and Avis Budget could miss based on his analysis of their respective pricing trends and residual values, but both have an added risk from reduced airport volume growth amid tightening competition among the ride hailing operators like Uber and Lyft. Tamberrino expects the car rental industry to remain challenged overall, noting that positive pricing will not be sustained, residual values will be pressured as more cars come off lease, and rising interest rates exert pressure on their balance sheets' high debt levels.
12/06/18
LSCM
12/06/18
NO CHANGE
LSCM
I.D. Systems expansion with Avis provides multiple benefits, says Lake Street
Lake Street analyst Jaeson Schmidt reiterated a Buy rating and $9.50 price target on I.D. Systems (IDSY) after the company expanded its relationship with Avis (CAR) with a new 75K unit order. Schmidt believes the expansion has three key benefits for I.D. Systems -- It should be additive to the P&L as he estimates its value at over $30M, it was not a one-off order and he would not be surprised if the relationship was further expanded, and concerns on tough year-over-year comparisons should lessen.
02/11/19
GSCO
02/11/19
UPGRADE
Target $35
GSCO
Buy
Avis Budget upgraded to Buy from Sell at Goldman Sachs
Goldman Sachs analyst David Tamberrino double upgraded Avis Budget (CAR) to Buy from Sell and raised his price target for the shares to $35 from $30. The analyst also maintains a Sell rating on Hertz (HTZ). Trading at 6.2 times estimated 2019 EBITDA versus a historical trough multiple of 5.9 times and long-term average 8.4 times, shares of Avis look attractive for mean reversion, Tamberrino tells investors in a research note. The analyst believes most of the headwinds the industry is facing appear priced in at current share levels. Further, he views Avis as better positioned than Hertz and thinks it should be able to improve results through cost optimization strategies in 2019 and beyond.
02/11/19
02/11/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tesla (TSLA) upgraded to Buy from Hold at Canaccord with analyst Jed Dorsheimer saying he thinks electric vehicle, or EV, penetration is underappreciated by Wall Street. 2. Avis Budget (CAR) upgraded to Buy from Sell at Goldman Sachs with analyst David Tamberrino saying trading at 6.2 times estimated 2019 EBITDA versus a historical trough multiple of 5.9 times and long-term average 8.4 times, shares of Avis look attractive for mean reversion. 3. Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing the surprise start to Apex Legends' new Battle Royale. 4. Hasbro (HAS) upgraded to Buy from Neutral at Monness Crespi. 5. Lloyds Banking (LYG) upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

LPLA

LPL Financial

$81.85

-1.96 (-2.34%)

09:21
06/20/19
06/20
09:21
06/20/19
09:21
Conference/Events
LPL Financial management to meet with JMP Securities »

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  • 25

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TPX

Tempur Sealy

$72.00

1.545 (2.19%)

09:21
06/20/19
06/20
09:21
06/20/19
09:21
Recommendations
Tempur Sealy analyst commentary  »

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APTX

Aptinyx

$3.11

-0.07 (-2.20%)

09:18
06/20/19
06/20
09:18
06/20/19
09:18
Initiation
Aptinyx initiated  »

Aptinyx assumed with an…

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
06/20/19
06/20
09:18
06/20/19
09:18
Options
Overnight activity included 764 trades in SPX and 6 trades in VIX »

764 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

VIX

Volatility Index S&P 500 Options

$0.00

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AOBC

American Outdoor Brands

$9.17

0.13 (1.44%)

09:17
06/20/19
06/20
09:17
06/20/19
09:17
Recommendations
American Outdoor Brands analyst commentary  »

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REPR

RMS Medical Products

$0.00

(0.00%)

09:16
06/20/19
06/20
09:16
06/20/19
09:16
Initiation
RMS Medical Products initiated  »

RMS Medical Products…

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ELOX

Eloxx Pharmaceuticals

$9.33

-0.66 (-6.61%)

09:16
06/20/19
06/20
09:16
06/20/19
09:16
Syndicate
Eloxx Pharmaceuticals 3.33M share Secondary priced at $9.00 »

The deal priced below the…

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  • 20

    Jun

TYPE

Monotype Imaging

$16.49

0.05 (0.30%)

09:16
06/20/19
06/20
09:16
06/20/19
09:16
Periodicals
Monotype Imaging exploring options after takeout interest, Bloomberg says »

Monotype Imaging is…

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CDE

Coeur Mining

$3.68

0.15 (4.25%)

09:15
06/20/19
06/20
09:15
06/20/19
09:15
Hot Stocks
Coeur, Alianza sign LOI to explore Tim high-grade silver-lead-zinc property »

Alianza Minerals has…

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09:15
06/20/19
06/20
09:15
06/20/19
09:15
Conference/Events
Senate Banking, Housing & Urban Affairs Committee to hold a hearing »

The Committee holds a…

OPTT

Ocean Power

$2.12

0.09 (4.43%)

09:13
06/20/19
06/20
09:13
06/20/19
09:13
Hot Stocks
Ocean Power receives U.S. patent for Power Take-Off System »

Ocean Power Technologies…

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AYI

Acuity Brands

$132.48

-1.99 (-1.48%)

09:12
06/20/19
06/20
09:12
06/20/19
09:12
Hot Stocks
Acuity Brands acquires WhiteOptics, terms not disclosed »

Acuity Brands announced…

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  • 02

    Jul

KNSL

Kinsale Capital Group

$88.57

1.66 (1.91%)

09:11
06/20/19
06/20
09:11
06/20/19
09:11
Conference/Events
Kinsale Capital Group management to meet with SunTrust »

Meetings to be held in…

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  • 25

    Jun

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    Jun

TPTX

Turning Point Therapeutics

$41.44

-2.23 (-5.11%)

09:10
06/20/19
06/20
09:10
06/20/19
09:10
Hot Stocks
Turning Point initiates Phase 2 registrational portion of TRIDENT-1 study »

Turning Point…

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09:10
06/20/19
06/20
09:10
06/20/19
09:10
General news
The June Philly Fed drop to a 4-month low of 0.3 »

The June Philly Fed drop…

LRAD

LRAD Corporation

$3.20

-0.01 (-0.31%)

09:08
06/20/19
06/20
09:08
06/20/19
09:08
Hot Stocks
LRAD Corporation receives $850,000 in orders for Japan, Canada »

LRAD Corporation…

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EVBG

Everbridge

$91.34

2.81 (3.17%)

09:08
06/20/19
06/20
09:08
06/20/19
09:08
Recommendations
Everbridge analyst commentary  »

Everbridge price target…

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MDRX

Allscripts

$10.66

0.45 (4.41%)

09:05
06/20/19
06/20
09:05
06/20/19
09:05
Recommendations
Allscripts analyst commentary  »

Allscripts could be LBO…

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LODE

Comstock Mining

$0.19

-0.0009 (-0.48%)

09:05
06/20/19
06/20
09:05
06/20/19
09:05
Hot Stocks
Comstock Mining expects to close on Silver Springs sale this summer »

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VRA

Vera Bradley

$11.88

-0.46 (-3.73%)

09:05
06/20/19
06/20
09:05
06/20/19
09:05
Conference/Events
Vera Bradley to hold a conference call »

Conference call to…

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  • 04

    Sep

SHOP

Shopify

$327.40

23.09 (7.59%)

09:04
06/20/19
06/20
09:04
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09:04
Recommendations
Shopify analyst commentary  »

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  • 05

    Sep

AMZN

Amazon.com

$1,909.73

7.73 (0.41%)

09:04
06/20/19
06/20
09:04
06/20/19
09:04
Hot Stocks
Amazon.com unveils Off-to-College store »

Amazon unveils its…

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  • 25

    Jun

  • 10

    Jul

ADBE

Adobe

$291.38

14.58 (5.27%)

09:04
06/20/19
06/20
09:04
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09:04
Recommendations
Adobe analyst commentary  »

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ORCL

Oracle

$52.69

-0.19 (-0.36%)

, AOBC

American Outdoor Brands

$9.17

0.13 (1.44%)

09:04
06/20/19
06/20
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Hot Stocks
Fly Intel: Pre-market Movers »

UP AFTER EARNINGS: Oracle…

ORCL

Oracle

$52.69

-0.19 (-0.36%)

AOBC

American Outdoor Brands

$9.17

0.13 (1.44%)

CCL

Carnival

$52.85

0.46 (0.88%)

DRI

Darden

$117.55

-0.39 (-0.33%)

ACM

Aecom

$36.55

0.73 (2.04%)

COMM

CommScope

$15.62

-0.265 (-1.67%)

PIR

Pier 1 Imports

$0.67

-0.0059 (-0.87%)

SRRK

Scholar Rock

$17.11

-2.835 (-14.21%)

CYRX

Cryoport

$18.62

-0.08 (-0.43%)

03/08/13
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  • 20

    Jun

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  • 21

    Jun

  • 25

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    Jun

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    Jun

  • 20

    Jun

LODE

Comstock Mining

$0.19

-0.0009 (-0.48%)

09:03
06/20/19
06/20
09:03
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09:03
Hot Stocks
Comstock says NDEP approves reduction in Lucerne reclamation bonding requirement »

The Nevada Division of…

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