Autobytel Inc. (NASDAQ:ABTL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
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 reaffirmed a “buy” rating and issued a $28.00 target price on shares of Autobytel in a research report on Sunday, September 18th.
Shares of Autobytel (NASDAQ:ABTL) opened at 17.70 on Wednesday. Autobytel has a one year low of $12.33 and a one year high of $25.00. The stock has a market capitalization of $190.89 million, a P/E ratio of 80.09 and a beta of 1.34. The firm’s 50-day moving average price is $16.92 and its 200-day moving average price is $15.80.
Autobytel (NASDAQ:ABTL) last issued its 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 business had revenue of $36.10 million for the quarter, compared to analyst estimates of $34.24 million. Autobytel had a return on equity of 12.16% and a net margin of 1.85%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Equities research analysts anticipate that Autobytel will post $1.40 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in ABTL. B. Riley Financial Inc. increased its stake 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 valued at $209,000 after buying an additional 3,811 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Autobytel during the second quarter valued at about $6,608,000. Thompson Davis & CO. Inc. increased 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. Oxford Asset Management increased its stake in shares of Autobytel by 154.5% in the second quarter. Oxford Asset Management now owns 172,415 shares of the company’s stock valued at $2,391,000 after buying an additional 104,677 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Autobytel during the second quarter valued at about $145,000. Hedge funds and other institutional investors own 66.48% of the company’s stock.
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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