Autohome (NYSE:ATHM) Downgraded to "Underperform" Rating by Bank of America

Key Points

• Bank of America downgraded Autohome from “neutral” to “underperform” and set a $19 price target, implying 15.67% downside from the prior close.
• Analyst sentiment is broadly negative: Autohome has an average “Reduce” rating and a consensus price target of $17.77, with recent downgrades from Wall Street Zen, JPMorgan, HSBC and others.
• Autohome opened at $22.53, while insiders own 5.70% of the company and institutional investors hold 63.08%.

Autohome (NYSE:ATHM - Get Free Report) was downgraded by equities research analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research note issued on Tuesday, Marketbeat Ratings reports. They presently have a $19.00 price target on the information services provider's stock. Bank of America's target price suggests a potential downside of 15.67% from the stock's previous close.

Several other research firms also recently weighed in on ATHM. Wall Street Zen downgraded shares of Autohome from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Autohome from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, June 3rd. Zacks Research upgraded Autohome from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Autohome in a research report on Friday, July 17th. Finally, HSBC downgraded Autohome from a "buy" rating to a "hold" rating and set a $17.30 price target on the stock. in a research note on Thursday, May 14th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $17.77.

Autohome Stock Down 0.6%

NYSE:ATHM opened at $22.53 on Tuesday. Autohome has a twelve month low of $15.57 and a twelve month high of $29.92. The company has a fifty day moving average of $20.50 and a 200-day moving average of $19.41. The firm has a market capitalization of $2.59 billion, a P/E ratio of 17.20 and a beta of 0.23.

Insider Buying and Selling at Autohome

In other news, CFO Yan Zeng sold 24,300 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $4.35, for a total value of $105,705.00. Following the completion of the sale, the chief financial officer owned 169,940 shares in the company, valued at $739,239. This represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Bibo Xiang sold 10,508 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $4.35, for a total transaction of $45,709.80. Following the transaction, the chief technology officer directly owned 62,368 shares in the company, valued at $271,300.80. The trade was a 14.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Autohome

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Autohome by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,168 shares of the information services provider's stock worth $236,000 after buying an additional 438 shares in the last quarter. Mondrian Investment Partners LTD grew its holdings in shares of Autohome by 10.1% in the fourth quarter. Mondrian Investment Partners LTD now owns 5,714 shares of the information services provider's stock valued at $127,000 after acquiring an additional 523 shares in the last quarter. Guinness Asset Management LTD increased its position in shares of Autohome by 20.7% during the fourth quarter. Guinness Asset Management LTD now owns 3,271 shares of the information services provider's stock valued at $76,000 after acquiring an additional 560 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Autohome by 5.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,101 shares of the information services provider's stock valued at $247,000 after acquiring an additional 601 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Autohome by 30.5% during the third quarter. Parallel Advisors LLC now owns 2,886 shares of the information services provider's stock worth $82,000 after acquiring an additional 674 shares during the period. 63.08% of the stock is owned by institutional investors.

Autohome Company Profile

Autohome Inc NYSE: ATHM operates one of China’s leading online destinations for automobile consumers, offering a comprehensive suite of digital platforms and services throughout the vehicle ownership lifecycle. Headquartered in Beijing, the company’s core website and mobile applications deliver news, reviews, pricing information, photos, videos and interactive tools to help prospective buyers evaluate new and used vehicles. By aggregating rich editorial content with user-generated ratings and expert analyses, Autohome seeks to guide consumers through research, purchase and after-sales decision-making.

In addition to its consumer-facing properties, Autohome provides automakers, dealers and service providers with integrated digital marketing and e-commerce solutions.

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