Zacks Investment Research Upgrades Autoweb (NASDAQ:AUTO) to Hold

Zacks Investment Research upgraded shares of Autoweb (NASDAQ:AUTO) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

Separately, ValuEngine cut shares of Autoweb from a buy rating to a hold rating in a report on Friday, October 4th.

NASDAQ AUTO opened at $2.61 on Tuesday. The firm has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $3.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 1.45. Autoweb has a one year low of $1.90 and a one year high of $5.00.

Autoweb (NASDAQ:AUTO) last issued its earnings results on Wednesday, August 7th. The information services provider reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.20). The firm had revenue of $27.14 million during the quarter, compared to analyst estimates of $27.71 million. Autoweb had a negative net margin of 27.41% and a negative return on equity of 51.92%. Equities research analysts expect that Autoweb will post -0.6 earnings per share for the current year.

In other news, Director Matias De Tezanos bought 50,000 shares of Autoweb stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $2.31 per share, with a total value of $115,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 38.40% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of AUTO. Vanguard Group Inc. raised its holdings in Autoweb by 28.1% in the second quarter. Vanguard Group Inc. now owns 248,214 shares of the information services provider’s stock valued at $881,000 after acquiring an additional 54,377 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Autoweb by 5.3% in the second quarter. Renaissance Technologies LLC now owns 407,590 shares of the information services provider’s stock valued at $1,447,000 after acquiring an additional 20,400 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in Autoweb by 33.3% in the second quarter. Ridgewood Investments LLC now owns 16,000 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 4,000 shares in the last quarter. 19.67% of the stock is currently owned by hedge funds and other institutional investors.

Autoweb Company Profile

AutoWeb, Inc operates as a digital marketing company for the automotive industry in the United States. It assists automotive retail dealers and manufacturers to market and sell new and used vehicles to consumers through its programs. The company's products include new vehicle lead program, which allows consumers to submit requests for pricing and availability of specific makes and models; and used vehicle lead program, which allows consumers to search for used vehicles according to search parameters, such as price, make, model, mileage, year, and location of the vehicle.

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