Avis Budget Group issues USD 650 million notes: CAR stock sits 86.88 percent below its high

Published on 10/05/2026 at 01:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter 2026 revenue reached USD 2.998 billion, down 1.00 percent year over year. A USD 3.9 billion market value defines CAR stock.

CAR, US0537741052, Illustration mit AI erstellt.

On September 24, 2026, Avis Budget Group, Inc. issued USD 650 million of five-year asset-backed securities, according to Stock Titan. CAR stock sat 86.88 percent below its 52-week high, with the latest primary-market quote at USD 111.22 against USD 847.70 on October 2, 2026.

Financing adds fleet-market context

The securities were issued through Avis Budget Rental Car Funding, a subsidiary that finances the company's domestic rental fleet. The transaction carries a five-year maturity, while the notes are secured by vehicles and related assets, according to Stock Titan.

That financing detail matters because fleet funding is a central operating constraint for a rental company. Avis Budget reported USD 2.998 billion of revenue in the second quarter of 2026, down 1.00 percent from USD 3.039 billion a year earlier, while total net income reached USD 63 million and Adjusted EBITDA was USD 286 million, according to Avis Budget Group.

Profit improved as revenue softened

The second-quarter 2026 figures show a mixed operating picture. Vehicle utilization reached 72.60 percent company-wide, while revenue per day increased 1.00 percent year over year and rental days fell 2.00 percent, according to Stock Titan. The combination points to better fleet productivity even as total rental volume remained under pressure.

MarketBeat reported on October 2, 2026, that nine analysts held a Reduce consensus, with three sell ratings and six hold ratings. The average 12-month price target was USD 135.00, while Morgan Stanley had lowered its target from USD 99.00 to USD 95.00 on September 11, 2026, according to MarketBeat.

CAR remains below its yearly high

CAR was last at USD 111.22 on Nasdaq on October 2, 2026 at 4:00 p.m. ET, compared with a USD 85.96 52-week low and a USD 847.70 high. The prior close at Lang & Schwarz was EUR 99.96 on October 2, 2026.