Localiza Rent a Car (OTCMKTS:LZRFY) Stock Falls 14.4% – Here’s Why

Shares of Localiza Rent a Car S.A. (OTCMKTS:LZRFY) were down 14.4% during mid-day trading on Monday. The company traded as low as $8.85 and last traded at $8.85. Approximately 1,693 shares changed hands during trading, a decline of 96% from the average session volume of 41,588 shares. The stock had previously closed at $10.34.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Localiza Rent a Car from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Localiza Rent a Car Trading Down 43.5%

The company has a 50 day moving average of $8.15 and a 200 day moving average of $8.29. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $6.37 billion and a price-to-earnings ratio of 10.02.

About Localiza Rent a Car

Localiza Rent a Car SA is a Brazilian mobility company that provides vehicle rental and fleet-management services. Its business serves individual customers, corporate clients and transportation partners through short-term rentals, monthly rental programs and other vehicle-use solutions.

The company also operates in the used-vehicle market through the sale of vehicles removed from its rental fleet. Its services are supported by a broad network of rental locations, including facilities at airports and in urban areas, as well as digital channels for reservations and customer service.

Founded in 1973 and headquartered in Belo Horizonte, Brazil, Localiza expanded its operations across Latin America.