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Auto Trader ( (GB:AUTO) ) has shared an announcement.
Auto Trader Group plc has announced the purchase of 281,800 of its ordinary shares for cancellation at an average price of 775.1319 pence per share. This transaction, facilitated by Merrill Lynch International, is part of the company’s ongoing share buyback program, which aims to reduce the number of shares in circulation and potentially increase shareholder value. Following this transaction, the company has 877,431,858 ordinary shares in issue, with 5,233,960 held in treasury, affecting the total number of voting rights available to shareholders.
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. It provides a platform for buying and selling new and used cars, catering to both consumers and automotive retailers.
Average Trading Volume: 1,856,372
Technical Sentiment Signal: Hold
Current Market Cap: £6.98B
For a thorough assessment of AUTO stock, go to TipRanks’ Stock Analysis page.