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An announcement from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc has announced the repurchase of 247,234 of its ordinary shares for cancellation at an average price of 802.4314 pence per share. This transaction, conducted through Merrill Lynch International, is part of the company’s ongoing buyback program aimed at reducing the number of shares in circulation, potentially increasing shareholder value and consolidating its market position.
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 the online marketplace for buying and selling new and used cars. The company provides a platform that connects car buyers and sellers, offering a range of services to facilitate transactions and enhance the car buying experience.
Average Trading Volume: 1,812,894
Technical Sentiment Signal: Buy
Current Market Cap: £6.93B
For a thorough assessment of AUTO stock, go to TipRanks’ Stock Analysis page.