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Auto Trader ( (GB:AUTO) ) just unveiled an update.
Auto Trader Group plc announced the repurchase of 283,900 of its ordinary shares for cancellation at an average price of 792.8547 pence per share. This transaction is part of the company’s ongoing buyback program, which aims to enhance shareholder value by reducing the number of shares in circulation. Following this transaction, the total number of voting rights in the company stands at 871,913,998. This move is likely to impact the company’s market positioning by potentially increasing earnings per share and demonstrating confidence in the company’s financial health.
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, catering to both consumers and automotive retailers.
Average Trading Volume: 1,838,195
Technical Sentiment Signal: Hold
Current Market Cap: £6.72B
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.