Barrington Research Increases Autobytel Inc. (ABTL) Price Target to $28.00
Autobytel Inc. (NASDAQ:ABTL) had its price objective hoisted by equities researchers at Barrington Research from $25.00 to $28.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 64.13% from the company’s previous close.
A number of other brokerages also recently issued reports on ABTL. Zacks Investment Research downgraded Autobytel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. B. Riley reaffirmed a “buy” rating and issued a $28.00 target price on shares of Autobytel in a research note on Friday, August 5th.
Shares of Autobytel (NASDAQ:ABTL) opened at 17.06 on Monday. Autobytel has a 12 month low of $12.33 and a 12 month high of $25.00. The company has a 50-day moving average of $16.93 and a 200 day moving average of $15.79. The company has a market cap of $183.99 million, a PE ratio of 77.19 and a beta of 1.34.
Autobytel (NASDAQ:ABTL) last posted 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 firm earned $36.10 million during the quarter, compared to the consensus estimate of $34.24 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. On average, analysts anticipate that Autobytel will post $1.40 earnings per share for the current year.
Several hedge funds have recently modified their holdings of ABTL. Thomson Horstmann & Bryant Inc. increased its stake 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. Emerald Acquisition Ltd. acquired a new stake in shares of Autobytel during the second quarter worth about $6,608,000. Vanguard Group Inc. increased its stake in shares of Autobytel by 2.0% in the second quarter. Vanguard Group Inc. now owns 385,076 shares of the company’s stock worth $5,341,000 after buying an additional 7,435 shares during the last quarter. Lyon Street Capital LLC increased its stake in shares of Autobytel by 13.5% in the second quarter. Lyon Street Capital LLC now owns 359,297 shares of the company’s stock worth $4,983,000 after buying an additional 42,835 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Autobytel by 24.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 239,576 shares of the company’s stock worth $3,323,000 after buying an additional 47,413 shares during the last quarter. 66.48% of the stock is 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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