Auto Trader downgraded to ‘neutral’ by UBS over slow transition to transaction platform
Progress on transitioning from a marketing to a transaction platform could not be announced for another year
Company
Auto Trader Group PLC
LON:AUTO
We’ve always been good at connecting car sellers with the right buyers. But over the years, how we do this has altered beyond all recognition. That’s because consumer behaviours have changed. You might remember us as a magazine, but today we’re a digital business used by millions of people. As we’re the UK’s largest digital automotive marketplace, our data can help sellers really understand buyers. And that means we’re not just about classified ads — our services and support help automotive traders buy, sell, market and manage their stock successfully.
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Auto Trader skids slightly, predicts near-term revenue decline as car market recovers from coronavirus impact
The car selling website said visitors and enquiries at its recently reopened car showrooms had “rebounded strongly and are now at record levels” following the relaxation of lockdown restrictions at the start of June
Auto Trader offers 25% discount in June after reopening
Car showrooms in England are allowed to resume trading as of 1 June
Auto Trader’s free advertising offer continues to May
The online vehicles seller already offered free advertising packages to retailers during April and will now continue to next month
Auto Trader launches placing to provide support during coronavirus crisis
Debt is expected to rise as advertising packages during April are free, resulting in a record number of vehicles being displayed
Auto Trader skids as it defers payments and charges amid coronavirus crisis
As part of efforts to support its customers, the auto marketplace will not be charging retailers for their advertising packages during April and will also allow customers to defer payment of their advertising costs for March for 30 days
Goldman Sachs upgrades Auto Trader as sees “more positive outlook” for media sector
Ascential was a top pick for its “mispriced structural growth and turnaround potential” and Relx was also highlighted as “mispriced”
Auto Trader upgraded by UBS based on long-term opportunities
In November, Auto Trader revealed pre-tax profits had increased 12% to £127.7mln in the half-year
Auto Trader's dominance 'unchallenged and unlikely to change', says Liberum
The online car reseller platform's market share is five times that of the next player, Gumtree and as the leader in the market, Auto Trader “benefits from strong virtuous circle effects and very high barriers to entry”
Auto Trader shares move in reverse on Peel Hunt downgrade
Peel Hunt cut its rating on the stock to ‘hold’ from ‘buy’ and moved its target price to 570p from under review.
Auto Trader downgraded by UBS due to 'limited potential upside” and risk of a no-deal Brexit
UBS cut its rating on the shares to ‘sell’ from ‘neutral’ but raised its target price to 540p from 530p.
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FTSE 100 closes in the red as global equity markets lag
The UK's premier shares index finished the afternoon session off nearly 31 points at 7,367
Investments and investor services
Auto Trader profits rise but shares drop as it warns of weaker revenue from manufacturers
The company warned that it expects revenue from its manufacturing clients to decline in the first half
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FTSE 100 closes higher led by defensive stocks
Footsie closed up 39 at 7,259, while mid-cap cousin FTSE 250 went the other direction, shedding over six points to close at 19,065
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Aviva and CMC Markets in spotlight for busy Thursday
Investors look forward to a strategy update from Aviva's new boss, meanwhile, they are braced for CMC Markets results after the recent profit warning.
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US jobs data, ECB policy decision to make for up meagre flow of corporate news in coming week
Asides from the macro news, the Week Ahead also brings the latest quarterly FTSE indexes reshuffle, a strategy update from insurer Aviva, and results from Auto Trader
Auto Trader skids as Citi shifts down into ‘neutral’ after strong share performance
The investment bank maintained that the car marketplace was “a high-quality asset”, however after an impressive year for the share price analysts said the risk/reward profile was now “more balanced”
Change of driver for Auto Trader as CEO Trevor Mather unveils retirement plans
Trevor Mather will step down next March after what will have been seven years in charge, and he will be replaced by current finance chief Nathan Coe
Liberum likens Auto Trader to Google and Yellow Pages as it hikes car ad platform’s price target
Like Google and Yellow Pages, Auto Trader is the number one in its field, and market leaders in these types of sectors tend to “receive disproportionate benefits due to a virtuous circle effect”
Auto Trader downgraded to ‘neutral’ by UBS on valuation grounds after strong run in the shares
Analysts at the Swiss bank saw “limited” further upside to the shares in the next 12 months unless the company either captured the £250mln opportunity from its transition to a transaction platform or saw a Brexit deal provide a boost to the