The stock of Auto Trader Group PLC (LON:AUTO) gapped up by GBX 1.1 today and has GBX 423.82 target or 4.00% above today’s GBX 407.52 share price. The 5 months technical chart setup indicates low risk for the GBX 3.97B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 423.82 price target is reached, the company will be worth GBX 158.80 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.85% or GBX 3.42 on November 23, hitting GBX 407.52. About 4.49M shares traded hands or 24.72% up from the average. Auto Trader Group PLC (LON:AUTO) has risen 7.87% since April 27, 2016 and is uptrending. It has outperformed by 2.54% the S&P500.
Auto Trader Group PLC (LON:AUTO) Ratings Coverage
Out of 14 analysts covering Auto Trader Group (LON:AUTO), 11 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 79% are positive. GBX 520 is the highest target while GBX 315 is the lowest. The GBX 453.62 average target is 11.31% above today’s (GBX 407.52) stock price. Auto Trader Group has been the topic of 59 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Numis Securities upgraded the shares of AUTO in a report on Wednesday, February 17 to “Buy” rating. The stock has “Buy” rating given by Canaccord Genuity on Monday, November 14. The firm has “Buy” rating by Goldman Sachs given on Tuesday, August 16. The rating was maintained by Barclays Capital on Wednesday, September 30 with “Equal Weight”. Barclays Capital maintained Auto Trader Group PLC (LON:AUTO) rating on Monday, July 4. Barclays Capital has “Equal Weight” rating and GBX 340 price target. BNP Paribas maintained the shares of AUTO in a report on Friday, November 11 with “Outperform” rating. Numis Securities maintained it with “Buy” rating and GBX 439 target price in Thursday, June 2 report. The firm has “Neutral” rating by Credit Suisse given on Monday, November 14. The stock of Auto Trader Group PLC (LON:AUTO) earned “Add” rating by Numis Securities on Friday, November 13. The rating was maintained by BNP Paribas with “Outperform” on Friday, November 20.
Auto Trader Group plc is a digital automotive marketplace. The company has a market cap of 3.97 billion GBP. The Firm is engaged in the business of buying and selling new and used vehicles. It has a 28.49 P/E ratio. The Firm also operates similar business in Ireland through its Website carzone.ie.
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