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An announcement from Auto Trader ( (GB:AUTO) ) is now available.
Auto Trader Group plc has announced the repurchase of 226,363 of its ordinary shares for cancellation at an average price of 782.4833 pence per share. This transaction, executed through Merrill Lynch International, is part of the company’s ongoing share 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 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, catering to a wide range of automotive consumers and dealers.
Average Trading Volume: 1,868,411
Technical Sentiment Signal: Hold
Current Market Cap: £6.78B
Learn more about AUTO stock on TipRanks’ Stock Analysis page.