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Auto Trader ( (GB:AUTO) ) has provided an update.
Auto Trader Group plc has announced a share buyback program, purchasing 357,600 of its ordinary shares for cancellation at an average price of 761.4981 pence per share. This transaction reduces the total number of voting rights in the company to 868,549,993, potentially impacting shareholder interests and the company’s market positioning.
The most recent analyst rating on (GB:AUTO) stock is a Sell with a £7.65 price target. To see the full list of analyst forecasts on Auto Trader stock, see the GB:AUTO Stock Forecast page.
Spark’s Take on GB:AUTO Stock
According to Spark, TipRanks’ AI Analyst, GB:AUTO is a Outperform.
Auto Trader’s strong financial performance and positive earnings call are the primary drivers of its score. However, technical indicators suggest bearish momentum, and valuation metrics indicate moderate attractiveness. Challenges highlighted in the earnings call, such as the digital services tax and declining used car prices, also weigh on the overall score.
To see Spark’s full report on GB:AUTO stock, click here.
More about Auto Trader
Auto Trader Group plc operates in the automotive industry, primarily focusing on digital automotive marketplaces. The company provides a platform for buying and selling vehicles, catering to both consumers and automotive retailers.
Average Trading Volume: 1,724,666
Technical Sentiment Signal: Sell
Current Market Cap: £6.66B
Learn more about AUTO stock on TipRanks’ Stock Analysis page.