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Auto Trader ( (GB:AUTO) ) just unveiled an update.
Auto Trader Group plc announced the repurchase of 220,627 of its ordinary shares at an average price of 772.6868 pence per share, as part of its share buyback program. This transaction reduces the number of shares in circulation, potentially increasing the value of remaining shares and demonstrating the company’s confidence in its financial health and future prospects.
The most recent analyst rating on (GB:AUTO) stock is a Sell with a £7.65 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 in the automotive industry, primarily focusing on the buying and selling of vehicles through its digital platforms. It is a leading online automotive marketplace in the UK, connecting buyers and sellers of new and used cars.
Average Trading Volume: 1,701,820
Technical Sentiment Signal: Hold
Current Market Cap: £6.7B
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.