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An announcement from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc announced the repurchase of 163,448 of its ordinary shares for cancellation, executed through Merrill Lynch International at an average price of 800.3265 pence per share. This transaction is part of the company’s ongoing buyback program, which affects the total number of voting rights available to shareholders, now standing at 872,758,087. The buyback reflects the company’s strategic financial management and could influence shareholder value and market perception.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £916.00 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 overall stock score is driven by its strong financial performance and positive earnings call highlights, including revenue growth and successful product launches. The valuation is moderate, and technical analysis shows a neutral trend. Challenges such as the digital services tax and declining used car prices are noted but do not significantly detract from the company’s robust market position.
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 buying and selling of vehicles through its online platform, targeting consumers and dealers in the automotive market.
Average Trading Volume: 1,926,596
Technical Sentiment Signal: Buy
Current Market Cap: £7.01B
Learn more about AUTO stock on TipRanks’ Stock Analysis page.