B. Riley Reaffirms Buy Rating for Autobytel Inc. (ABTL)
Autobytel Inc. (NASDAQ:ABTL)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a research note issued to investors on Monday. They presently have a $28.00 target price on the stock. B. Riley’s price target would suggest a potential upside of 62.70% from the company’s current price.
ABTL has been the topic of several other research reports. Barrington Research upped their price target on shares of Autobytel from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, October 10th. Zacks Investment Research raised Autobytel from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, August 10th.
Autobytel (NASDAQ:ABTL) opened at 17.21 on Monday. The firm has a market capitalization of $185.61 million, a P/E ratio of 77.87 and a beta of 1.34. The stock has a 50 day moving average price of $16.98 and a 200-day moving average price of $15.81. Autobytel has a 52 week low of $12.33 and a 52 week high of $25.00.
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Autobytel (NASDAQ:ABTL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $36.10 million for 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 business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts anticipate that Autobytel will post $1.40 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management AG boosted its position in Autobytel by 67.5% in the fourth quarter. Allianz Asset Management AG now owns 579,859 shares of the company’s stock worth $13,082,000 after buying an additional 233,598 shares in the last quarter. Thomson Horstmann & Bryant Inc. boosted its position in shares of Autobytel by 4.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 512,417 shares of the company’s stock worth $7,107,000 after buying an additional 20,423 shares during the period. Thomson Horstmann & Bryant boosted its position in shares of Autobytel by 5.6% in the fourth quarter. Thomson Horstmann & Bryant now owns 501,595 shares of the company’s stock worth $11,315,000 after buying an additional 26,759 shares during the period. Russell Frank Co boosted its position in shares of Autobytel by 34.8% in the fourth quarter. Russell Frank Co now owns 488,727 shares of the company’s stock worth $10,810,000 after buying an additional 126,201 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Autobytel during the second quarter worth about $6,608,000. 66.48% of the stock is currently owned by institutional investors and hedge funds.
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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