Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Auto Trader ( (GB:AUTO) ) just unveiled an announcement.
Auto Trader Group plc has announced the repurchase of 328,700 of its ordinary shares for cancellation at an average price of 786.8121 pence per share. This transaction, executed through Merrill Lynch International, reduces the total number of shares in circulation and impacts the company’s voting rights, which now stand at 869,853,522. The buyback is part of Auto Trader’s ongoing strategy to manage its capital structure and potentially enhance shareholder value.
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 marketplace services. The company facilitates the buying and selling of vehicles through its online platform, targeting both consumers and automotive dealers.
Average Trading Volume: 1,652,118
Technical Sentiment Signal: Buy
Current Market Cap: £6.85B
For detailed information about AUTO stock, go to TipRanks’ Stock Analysis page.