AutoNation, Inc. (NYSE:AN) Receives $178.88 Consensus Price Target from Brokerages

Shares of AutoNation, Inc. (NYSE:AN) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $178.88.

Several research analysts have weighed in on the stock. StockNews.com lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of AutoNation from $142.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their price objective on shares of AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. Bank of America dropped their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, Morgan Stanley upgraded shares of AutoNation from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $117.00 to $140.00 in a research note on Thursday, February 29th.

AutoNation Stock Up 1.5 %

AN stock opened at $169.86 on Wednesday. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The company’s 50 day simple moving average is $162.38 and its 200-day simple moving average is $149.36. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23. The firm has a market capitalization of $6.84 billion, a P/E ratio of 8.05, a P/E/G ratio of 3.21 and a beta of 1.22.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the previous year, the business earned $6.05 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoNation will post 18.44 EPS for the current year.

AutoNation announced that its board has initiated a stock buyback program on Friday, April 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 14.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction 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 directly owns 4,167,270 shares of the company’s stock, valued at approximately $672,013,960.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other AutoNation news, Director David B. Edelson sold 10,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now directly owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The sale was disclosed in a legal filing 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 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 directly owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The disclosure for this sale can be found here. In the last three months, insiders sold 116,804 shares of company stock valued at $18,832,532. Company insiders own 0.74% of the company’s stock.

Institutional Trading of AutoNation

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of AutoNation during the 4th quarter worth about $42,748,000. Invesco Ltd. increased its position in shares of AutoNation by 31.8% during the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock worth $114,300,000 after purchasing an additional 181,942 shares in the last quarter. Eminence Capital LP increased its position in shares of AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock worth $39,338,000 after purchasing an additional 119,866 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of AutoNation by 47.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock worth $51,491,000 after purchasing an additional 109,571 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in AutoNation by 137.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 167,178 shares of the company’s stock valued at $25,311,000 after acquiring an additional 96,797 shares in the last quarter. 94.62% of the stock is owned by institutional investors.

AutoNation Company Profile

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.