Autobytel Inc. (ABTL) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Autobytel Inc. (NASDAQ:ABTL) from a hold rating to a sell rating in a report released on Thursday.

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 reissued a buy rating and issued a $20.00 price objective on shares of Autobytel in a research report on Thursday, December 22nd.

Shares of Autobytel (NASDAQ:ABTL) opened at 13.14 on Thursday. The firm has a 50-day moving average of $13.20 and a 200-day moving average of $14.57. Autobytel has a 12-month low of $10.72 and a 12-month high of $19.04. The firm has a market cap of $144.82 million, a P/E ratio of 45.31 and a beta of 1.25.

Autobytel (NASDAQ:ABTL) last issued its earnings results on Thursday, March 9th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $40.38 million for the quarter, compared to the consensus estimate of $37.46 million. Autobytel had a net margin of 2.54% and a return on equity of 12.15%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts forecast that Autobytel will post $1.26 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Autobytel by 68.2% in the fourth quarter. Renaissance Technologies LLC now owns 55,500 shares of the company’s stock valued at $746,000 after buying an additional 22,500 shares during the period. Emancipation Management LLC bought a new position in shares of Autobytel during the fourth quarter valued at approximately $158,000. Trexquant Investment LP bought a new position in shares of Autobytel during the fourth quarter valued at approximately $391,000. Dimensional Fund Advisors LP raised its position in shares of Autobytel by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 278,195 shares of the company’s stock valued at $3,742,000 after buying an additional 11,775 shares during the period. Finally, State Street Corp raised its position in shares of Autobytel by 4.6% in the fourth quarter. State Street Corp now owns 124,677 shares of the company’s stock valued at $1,672,000 after buying an additional 5,462 shares during the period. 68.10% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:ABTL

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