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Auto Trader ( (GB:AUTO) ) has shared an update.
Auto Trader Group plc has announced the repurchase of 322,800 of its ordinary shares for cancellation at an average price of 787.6478 pence per share. This transaction, executed through Merrill Lynch International, is part of the company’s ongoing buyback program, which aims to optimize its capital structure and enhance shareholder value. Following this buyback, the company now has 875,413,682 ordinary shares in issue, with 5,231,460 shares 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 £879.00 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 primary drivers of its score. However, technical indicators suggest bearish momentum, and valuation metrics indicate moderate attractiveness. Challenges highlighted in the earnings call, such as the digital services tax and declining used car prices, also weigh on the overall score.
To see Spark’s full report on GB:AUTO stock, click here.
More about Auto Trader
Auto Trader Group plc operates within the automotive industry, primarily offering a digital marketplace for buying and selling vehicles. The company focuses on connecting buyers and sellers of new and used cars through its online platform, aiming to streamline the vehicle purchasing process.
Average Trading Volume: 1,697,506
Technical Sentiment Signal: Buy
Current Market Cap: £6.82B
For a thorough assessment of AUTO stock, go to TipRanks’ Stock Analysis page.