Autobytel Inc. (NASDAQ:AUTO) Rating Increased to Buy at Zacks Investment Research

Autobytel Inc. (NASDAQ:AUTO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, November 8th. The firm currently has a $8.50 target price on the information services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential downside of 1.28% from the company’s current price.

According to Zacks, “AutoWeb, Inc. provides consumer leads and associated marketing services primarily to automotive dealers and manufacturers throughout the United States. It also provides consumers with robust and original online automotive content. AutoWeb Inc., formerly known as Autobytel Inc., is headquartered in Irvine, CA. “

AUTO has been the subject of several other reports. B. Riley reaffirmed a “buy” rating and issued a $12.00 target price on shares of Autobytel in a research report on Friday, August 4th. Barrington Research lowered Autobytel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th. ValuEngine cut Autobytel from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, TheStreet cut Autobytel from a “c” rating to a “d+” rating in a report on Monday, October 9th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.25.

Autobytel (AUTO) opened at $8.61 on Wednesday. Autobytel has a twelve month low of $6.63 and a twelve month high of $15.28. The firm has a market capitalization of $110.95, a PE ratio of 12.29 and a beta of 1.01. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.07.

Autobytel (NASDAQ:AUTO) last released its quarterly earnings data on Thursday, November 2nd. The information services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. Autobytel had a return on equity of 7.47% and a net margin of 1.51%. The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $36.84 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. sell-side analysts forecast that Autobytel will post 0.49 earnings per share for the current fiscal year.

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Autobytel Company Profile

AutoWeb, Inc, formerly 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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