Autobytel Inc. (ABTL) Sees Large Volume Increase on Analyst Upgrade
Autobytel Inc. (NASDAQ:ABTL) shares saw strong trading volume on Monday after Barrington Research raised their price target on the stock from $25.00 to $28.00. Barrington Research currently has an outperform rating on the stock. 67,838 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 55,810 shares.The stock last traded at $17.64 and had previously closed at $17.35.
ABTL has been the topic of several other research reports. Zacks Investment Research lowered Autobytel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. B. Riley restated a “buy” rating and set a $28.00 target price on shares of Autobytel in a research report on Wednesday, August 10th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position 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 during the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Autobytel during the second quarter valued at about $145,000. Highbridge Capital Management LLC purchased a new position in shares of Autobytel during the second quarter valued at about $152,000. Thompson Davis & CO. Inc. raised its position 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 during the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Autobytel during the second quarter valued at about $188,000. Institutional investors and hedge funds own 66.48% of the company’s stock.
The stock has a 50-day moving average of $16.92 and a 200 day moving average of $15.78. The stock has a market cap of $190.79 million, a price-to-earnings ratio of 80.05 and a beta of 1.34.
Autobytel (NASDAQ:ABTL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm had revenue of $36.10 million for the quarter, compared to the consensus estimate of $34.24 million. Autobytel had a return on equity of 12.16% and a net margin of 1.85%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Equities research analysts expect that Autobytel Inc. will post $1.40 EPS for the current year.
Autobytel Company Profile
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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