Autohome (NYSE:ATHM) Shares Climb 10.9% Following Better-Than-Expected Earnings

Autohome Inc. (NYSE:ATHM)’s share price shot up 10.9% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $22.34 and last traded at $22.1410. Approximately 145,845 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 670,074 shares. The stock had previously closed at $19.96.

The information services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Autohome had a net margin of 14.23% and a return on equity of 4.00%. The firm had revenue of $196.12 million for the quarter, compared to analysts’ expectations of $189.93 million. During the same period in the previous year, the company earned $3.45 earnings per share. The company’s quarterly revenue was down 26.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ATHM shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $26.50 price target on shares of Autohome in a report on Wednesday, October 14th. Wall Street Zen upgraded Autohome from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Zacks Research upgraded Autohome from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Bank of America lowered Autohome from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Tuesday, August 18th. Finally, Weiss Ratings raised shares of Autohome from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.95.

Insider Activity

In other news, CTO Bibo Xiang sold 5,588 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $5.29, for a total value of $29,560.52. Following the transaction, the chief technology officer owned 56,780 shares of the company’s stock, valued at approximately $300,366.20. The trade was a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Quan Long sold 34,400 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $5.29, for a total value of $181,976.00. Following the transaction, the director owned 175,984 shares of the company’s stock, valued at approximately $930,955.36. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,304 shares of company stock worth $260,818 over the last quarter. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Autohome

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vest Financial LLC boosted its holdings in Autohome by 35.9% during the third quarter. Vest Financial LLC now owns 71,514 shares of the information services provider’s stock worth $1,520,000 after buying an additional 18,891 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Autohome during the 3rd quarter valued at about $12,420,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Autohome in the 2nd quarter valued at approximately $5,293,000. Oldfield Partners LLP raised its position in Autohome by 20.3% in the second quarter. Oldfield Partners LLP now owns 49,800 shares of the information services provider’s stock valued at $948,000 after purchasing an additional 8,400 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Autohome by 159.7% during the 1st quarter. Bank of America Corp DE now owns 364,818 shares of the information services provider’s stock worth $6,337,000 after purchasing an additional 224,318 shares during the period. 63.08% of the stock is currently owned by hedge funds and other institutional investors.

Autohome Trading Up 0.1%

The company has a market capitalization of $2.64 billion, a PE ratio of 24.31 and a beta of 0.36. The business has a fifty day moving average of $21.04 and a 200 day moving average of $20.04.

About Autohome

Autohome Inc (NYSE: ATHM) operates an online automotive platform serving consumers, automobile manufacturers, dealers and other industry participants primarily in China. Through its websites and mobile applications, the company provides information and digital tools to help users research vehicles, compare models, read reviews, explore pricing and connect with sellers.

The company’s services include automotive news and editorial content, vehicle specifications, user-generated discussions, professional evaluations, sales-lead generation and online marketing solutions.