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An announcement from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc announced the repurchase of 257,267 of its ordinary shares at an average price of 820.7506 pence per share, as part of its ongoing buyback program. This transaction, executed through Merrill Lynch International, impacts the company’s share structure by increasing the number of shares held in treasury to 5,195,887, while the total number of voting rights stands at 872,962,319. This move is likely aimed at enhancing shareholder value and optimizing capital structure.
The most recent analyst rating on (GB:AUTO) stock is a Sell with a £7.77 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 demonstrates strong financial performance, with robust growth and profitability. Strategic share buybacks further enhance shareholder value. However, technical indicators suggest caution due to potential overvaluation, and the high P/E ratio reflects pricing concerns. Despite these challenges, the company’s strategic initiatives and solid financial health provide a stable foundation for long-term growth.
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, catering to both consumers and dealers.
Average Trading Volume: 3,269,492
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.17B
See more insights into AUTO stock on TipRanks’ Stock Analysis page.