Localiza Rent a Car (OTCMKTS:LZRFY) Lowered to “Strong Sell” Rating by Zacks Research

Localiza Rent a Car (OTCMKTS:LZRFY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Localiza Rent a Car Stock Up 1.5%

Shares of Localiza Rent a Car stock opened at $7.28 on Tuesday. Localiza Rent a Car has a 1 year low of $5.98 and a 1 year high of $11.76. The stock has a fifty day moving average price of $8.01 and a 200-day moving average price of $8.89.

Localiza Rent a Car (OTCMKTS:LZRFY) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.37 billion.

About Localiza Rent a Car

Localiza Rent a Car (OTCMKTS:LZRFY) is a leading mobility solutions provider headquartered in Belo Horizonte, Brazil. Founded in 1973, the company has built a strong reputation in the car rental industry, offering a broad range of services to both leisure and corporate customers. Over the decades, Localiza has expanded its footprint to become one of Latin America’s largest car rental and fleet management operators.

The company’s core activities include short- and long-term vehicle rentals, fleet management services and the sale of used vehicles.