Autobytel Inc. (ABTL) Sees Large Volume Increase on Analyst Upgrade
Autobytel Inc. (NASDAQ:ABTL) saw an uptick in 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 were traded 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. B. Riley reiterated a “buy” rating and issued a $28.00 price objective on shares of Autobytel in a report on Tuesday, September 13th. Zacks Investment Research upgraded Autobytel from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, August 10th.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABTL. B. Riley Financial Inc. increased its position in shares of Autobytel by 33.9% in the second quarter. B. Riley Financial Inc. now owns 15,052 shares of the company’s stock worth $209,000 after buying an additional 3,811 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Autobytel during the second quarter worth about $6,608,000. Thompson Davis & CO. Inc. increased 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 worth $157,000 after buying an additional 5,605 shares in the last quarter. Oxford Asset Management increased its position in shares of Autobytel by 154.5% in the second quarter. Oxford Asset Management now owns 172,415 shares of the company’s stock worth $2,391,000 after buying an additional 104,677 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in shares of Autobytel during the second quarter worth about $145,000. Institutional investors own 66.48% of the company’s stock.
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The firm has a market cap of $190.79 million, a P/E ratio of 80.05 and a beta of 1.34. The stock’s 50-day moving average price is $16.92 and its 200 day moving average price is $15.78.
Autobytel (NASDAQ:ABTL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Autobytel had a return on equity of 12.16% and a net margin of 1.85%. The business had revenue of $36.10 million for the quarter, compared to the consensus estimate of $34.24 million. During the same period in the previous year, the business earned $0.31 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. Analysts forecast that Autobytel Inc. will post $1.40 earnings per share 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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