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Auto Trader ( (GB:AUTO) ) has issued an update.
Auto Trader Group plc announced the repurchase of 700,000 of its ordinary shares for cancellation, at an average price of 610.5527 pence per share. This transaction, conducted through Deutsche Bank AG, London Branch, is part of the company’s ongoing buyback program, which aims to optimize its capital structure and enhance shareholder value by reducing the number of shares in circulation.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £686.00 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, which highlight robust revenue growth and strategic advancements. However, the bearish technical indicators and moderate valuation score suggest caution. The company’s strategic initiatives and solid financial foundation support a positive outlook, but current market conditions and technical signals warrant careful monitoring.
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 is a leading digital automotive marketplace in the UK, connecting car buyers with sellers.
Average Trading Volume: 3,248,463
Technical Sentiment Signal: Sell
Current Market Cap: £5.3B
Learn more about AUTO stock on TipRanks’ Stock Analysis page.