Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
The latest announcement is out from Auto Trader ( (GB:AUTO) ).
Auto Trader Group plc announced the repurchase of 700,000 of its ordinary shares through Deutsche Bank AG, London Branch, for cancellation at an average price of 596.6269 pence per share. This transaction, part of a buyback program, impacts the company’s total voting rights, which now stand at 850,026,378. The buyback is a strategic move to manage the company’s capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £669.00 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 strategic share buybacks are significant positives, supporting a stable outlook. However, weak technical indicators and challenges in certain revenue streams slightly temper 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. The company provides a digital marketplace for vehicle transactions, facilitating connections between buyers and sellers in the automotive sector.
Average Trading Volume: 3,585,813
Technical Sentiment Signal: Sell
Current Market Cap: £5.11B
Find detailed analytics on AUTO stock on TipRanks’ Stock Analysis page.