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An update from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc announced the repurchase of 450,000 of its ordinary shares for cancellation at an average price of 733.3485 pence per share. This transaction, conducted through Deutsche Numis, is part of the company’s ongoing buyback program, which impacts the total number of voting rights and shares in issue. The move is likely to influence the company’s market positioning by potentially increasing shareholder value and adjusting the capital structure.
The most recent analyst rating on (GB:AUTO) stock is a Sell with a £770.00 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 most significant factors contributing to its score. The company’s robust revenue growth, profitability, and strategic product launches position it well for future growth. However, mixed technical indicators and moderate valuation slightly temper the overall outlook.
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 new and used cars, catering to both consumers and automotive retailers.
Average Trading Volume: 2,468,950
Technical Sentiment Signal: Sell
Current Market Cap: £6.48B
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.