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The latest update is out from Auto Trader ( (GB:AUTO) ).
Auto Trader Group plc announced a buyback of 373,300 ordinary shares for cancellation at an average price of 774.8897 pence per share, as part of its ongoing share buyback program. This transaction, executed through Merrill Lynch International, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thus increasing the ownership percentage of remaining shareholders.
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. The company provides a digital marketplace for automotive transactions, catering to both consumers and dealers.
Average Trading Volume: 1,779,609
Technical Sentiment Signal: Buy
Current Market Cap: £6.74B
See more insights into AUTO stock on TipRanks’ Stock Analysis page.