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Auto Trader ( (GB:AUTO) ) has shared an update.
Auto Trader Group plc announced the repurchase of 338,419 of its ordinary shares at an average price of 780.0487 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 increasing the value of remaining shares and enhancing shareholder value.
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 reflects its strong financial performance and positive earnings call insights, which are slightly tempered by mixed technical indicators and a relatively high valuation. The company’s robust market position and successful product strategies support its growth potential, despite some challenges in vehicle pricing and segment losses.
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 marketplace services. It facilitates the buying and selling of vehicles through its online platform, catering to both consumers and dealers.
Average Trading Volume: 1,861,848
Technical Sentiment Signal: Buy
Current Market Cap: £6.77B
For detailed information about AUTO stock, go to TipRanks’ Stock Analysis page.