Autoweb (NASDAQ:AUTO) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Autoweb (NASDAQ:AUTO) from a sell rating to a hold rating in a report published on Monday 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. “

Several other research analysts have also commented on the stock. Liberum Capital reaffirmed a buy rating on shares of Autoweb in a report on Wednesday, November 6th. Credit Suisse Group reissued an underperform rating on shares of Autoweb in a research note on Thursday, October 17th. Deutsche Bank restated a hold rating on shares of Autoweb in a research report on Friday, November 8th. Barrington Research reiterated a hold rating on shares of Autoweb in a report on Tuesday, November 5th. Finally, ValuEngine upgraded shares of Autoweb from a hold rating to a buy rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $4.25.

Shares of NASDAQ AUTO traded up $0.06 during midday trading on Monday, hitting $2.59. The company’s stock had a trading volume of 2,615 shares, compared to its average volume of 25,080. Autoweb has a 1-year low of $1.90 and a 1-year high of $5.00. The firm’s fifty day moving average price is $2.63 and its 200-day moving average price is $3.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $33.13 million, a P/E ratio of -2.35 and a beta of 0.19.

Autoweb (NASDAQ:AUTO) last posted its quarterly earnings results on Thursday, November 7th. The information services provider reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Autoweb had a negative net margin of 14.50% and a negative return on equity of 49.28%. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $29.40 million. As a group, research analysts predict that Autoweb will post -0.63 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in AUTO. Ridgewood Investments LLC raised its holdings in shares of Autoweb by 33.3% during 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 during the period. Renaissance Technologies LLC raised its holdings in shares of Autoweb by 5.3% during 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 during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Autoweb by 28.1% during 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 during the period. Institutional investors and hedge funds own 19.68% of the company’s stock.

About Autoweb

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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