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Auto Trader ( (GB:AUTO) ) has shared an announcement.
Auto Trader Group plc announced the repurchase of 299,226 of its ordinary shares through Merrill Lynch International for cancellation at an average price of 767.1353 pence per share. This transaction reduces the total number of shares in issue, potentially increasing the value of remaining shares and impacting shareholder voting rights.
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 digital automotive marketplaces. The company provides a platform for buying and selling new and used cars, serving both consumers and automotive retailers.
Average Trading Volume: 1,710,729
Technical Sentiment Signal: Hold
Current Market Cap: £6.72B
Learn more about AUTO stock on TipRanks’ Stock Analysis page.