Share Repurchase Program Authorized by AutoNation (NYSE:AN)

AutoNation (NYSE:AN) declared that its board has approved a stock buyback plan on Friday, April 26th, RTT News reports. The company plans to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 14.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on AN. Wells Fargo & Company upped their price target on shares of AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research note on Monday. StockNews.com downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Evercore ISI began coverage on shares of AutoNation in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price target on the stock. Morgan Stanley upgraded shares of AutoNation from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $117.00 to $140.00 in a research note on Thursday, February 29th. Finally, Guggenheim upped their price target on shares of AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.38.

AutoNation Stock Down 2.6 %

Shares of NYSE AN opened at $161.13 on Wednesday. The company has a 50 day simple moving average of $155.21 and a 200 day simple moving average of $145.30. The firm has a market cap of $6.72 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. AutoNation has a 1 year low of $123.81 and a 1 year high of $182.08. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.77 and a quick ratio of 0.23.

AutoNation (NYSE:AN) last released its earnings results on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 43.48%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.05 EPS. On average, research analysts forecast that AutoNation will post 18.92 EPS for the current year.

Insider Buying and Selling at AutoNation

In other news, major shareholder Edward S. Lampert sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the completion of the sale, the insider now owns 4,167,270 shares of the company’s stock, valued at approximately $672,013,960.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Edward S. Lampert sold 10,804 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.56, for a total value of $1,669,866.24. Following the transaction, the insider now directly owns 4,267,860 shares in the company, valued at approximately $659,640,441.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total value of $16,126,000.00. Following the completion of the transaction, the insider now owns 4,167,270 shares in the company, valued at $672,013,960.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,279 shares of company stock valued at $19,361,962. 0.74% of the stock is currently owned by company insiders.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.