Autobytel Inc. (ABTL) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “Autobytel, Inc. is an internationally branded online automotive commerce company that provides consumers with automotive solutions throughout the lifecycle of vehicle ownership. The company owns Internet sites for new and pre-owned vehicle information and automotive services that link buyers and sellers in an information-rich environment. Through the company’s Web sites consumers can research pricing, specifications and other information regarding new and pre-owned vehicles and purchase, finance, lease, insure, sell or maintain their vehicles. “
Separately, B. Riley reissued a buy rating and set a $28.00 target price on shares of Autobytel in a research note on Sunday, September 18th.
Shares of Autobytel (NASDAQ:ABTL) traded down 1.56% during midday trading on Wednesday, reaching $17.69. 5,718 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $16.91 and its 200 day moving average is $15.78. The firm has a market cap of $190.79 million, a PE ratio of 80.05 and a beta of 1.34. Autobytel has a one year low of $12.33 and a one year high of $25.00.
Autobytel (NASDAQ:ABTL) last released its earnings results on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business earned $36.10 million during the quarter, compared to analysts’ expectations of $34.24 million. Autobytel had a net margin of 1.85% and a return on equity of 12.16%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. Analysts anticipate that Autobytel will post $1.40 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Autobytel by 96.4% in the second quarter. Acrospire Investment Management LLC now owns 8,558 shares of the company’s stock valued at $119,000 after buying an additional 4,200 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Autobytel during the second quarter valued at about $145,000. Highbridge Capital Management LLC acquired a new stake in shares of Autobytel during the second quarter valued at about $152,000. Thompson Davis & CO. Inc. boosted its stake in shares of Autobytel by 97.5% in the second quarter. Thompson Davis & CO. Inc. now owns 11,354 shares of the company’s stock valued at $157,000 after buying an additional 5,605 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Autobytel during the second quarter valued at about $188,000. 66.48% of the stock is owned by institutional investors.
Autobytel Inc is an automotive marketing services company that assists automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers through the programs for online lead referrals, dealer marketing products and services, and online advertising programs and mobile products.
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