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Auto Trader ( (GB:AUTO) ) has issued an update.
Auto Trader Group plc has announced the repurchase of 290,000 of its ordinary shares through Merrill Lynch International, at an average price of 780.7037 pence per share, for cancellation. This transaction is part of the company’s ongoing buyback program, which aims to reduce the number of shares in circulation, potentially enhancing shareholder value and adjusting the company’s capital structure.
The most recent analyst rating on (GB:AUTO) stock is a Buy with a £880.00 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, highlighting growth and market leadership. However, mixed technical indicators and a high P/E ratio suggest caution. The absence of significant corporate events further consolidates the focus on core financial and operational metrics.
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 digital marketplace for buying and selling vehicles. The company provides services that facilitate transactions between car buyers and sellers, leveraging its platform to connect users with a wide range of automotive options.
Average Trading Volume: 1,991,023
Technical Sentiment Signal: Hold
Current Market Cap: £6.69B
For an in-depth examination of AUTO stock, go to TipRanks’ Overview page.