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Auto Trader ( (GB:AUTO) ) just unveiled an update.
Auto Trader Group plc announced the repurchase of 300,800 of its ordinary shares for cancellation at an average price of 774.6679 pence per share. This transaction, conducted through Merrill Lynch International, is part of the company’s buyback program and results in a total of 864,303,281 voting rights available for shareholders. The buyback could potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
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 within 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, and is a significant player in the UK automotive market.
Average Trading Volume: 1,972,093
Technical Sentiment Signal: Hold
Current Market Cap: £6.71B
For an in-depth examination of AUTO stock, go to TipRanks’ Overview page.