Vehicle Rental Stocks Speed Higher Ahead of Priceline Report

• By the tickerspy.com Staff
• On 12:18 pm EST, Monday November 9, 2009

It's been a rough month for vehicle rental stocks, but the sector's more recent rally continued into a new week on Monday.

A week ago a USA Today headline read, "Rental car taxes are getting jacked up." More negative sentiment was the last thing the sluggish sector needed, but investors shrugged off the report in favor of earnings news, which lifted shares across the board. Today, the stocks are accelerating higher, and investors will be watching for sentiment from travel site Priceline.com (NASDAQ: PCLN - News) when it reports earnings this afternoon.

As a whole, the Vehicle Rental Stocks Index is up by 5% today. However, it remains -14% behind the S&P 500 over the last month.

Avis Budget Group (NYSE: CAR - News) and Dollar Thrifty Automotive Group (NYSE: DTG - News) are leading today's run with respective gains of 10% and 4.5%. Both stocks are approximately 3000% ahead of their 52-week lows, though they remain more than -25% from highs for the year.

Hertz Global Holdings (NYSE: HTZ - News), the sector's largest public player at $3 billion, is adding 3% to its 7% five-day rally. U-Haul parent Amerco (NASDAQ: UHAL - News) is also trading higher today.

As of this writing, the Vehicle Rental Stocks Index remains one of the 10 worst-performing tickerspy Indexes over the last month, down by -12.3%.

Investors can track the Vehicle Rental Stocks Index for performance trends and a suite of other metrics at tickerspy.com.

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