Zacks Investment Research lowered shares of Autobytel Inc. (NASDAQ:ABTL) from a strong-buy rating to a hold rating in a research note released on Wednesday morning.

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 reiterated a buy rating and issued a $28.00 target price on shares of Autobytel in a report on Wednesday, August 10th.

Autobytel (NASDAQ:ABTL) opened at 17.35 on Wednesday. Autobytel has a one year low of $12.33 and a one year high of $25.00. The stock has a market cap of $187.12 million, a P/E ratio of 78.51 and a beta of 1.34. The firm’s 50-day moving average is $16.91 and its 200 day moving average is $15.79.

Autobytel (NASDAQ:ABTL) last announced its earnings results on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business earned $36.10 million during the quarter, compared to the consensus estimate of $34.24 million. Autobytel had a net margin of 1.85% and a return on equity of 12.16%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, analysts anticipate that Autobytel will post $1.40 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of ABTL. Geode Capital Management LLC increased its position in Autobytel by 35.9% in the first quarter. Geode Capital Management LLC now owns 69,339 shares of the company’s stock valued at $1,203,000 after buying an additional 18,312 shares during the period. Adirondack Research & Management Inc. increased its position in Autobytel by 3.0% in the first quarter. Adirondack Research & Management Inc. now owns 118,885 shares of the company’s stock valued at $2,064,000 after buying an additional 3,425 shares during the period. Barclays PLC increased its position in Autobytel by 2.2% in the first quarter. Barclays PLC now owns 24,897 shares of the company’s stock valued at $423,000 after buying an additional 525 shares during the period. Thomson Horstmann & Bryant Inc. increased its position in Autobytel by 4.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 512,417 shares of the company’s stock valued at $7,107,000 after buying an additional 20,423 shares during the period. Finally, California State Teachers Retirement System bought a new position in Autobytel during the second quarter valued at about $253,000. Hedge funds and other institutional investors own 66.48% of the company’s stock.

About Autobytel

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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