AutoNation (AN) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of AutoNation (NYSE:AN) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat Ratings reports. They currently have $59.00 price objective on the stock. The analysts noted that the move was a valuation call.

A number of other research analysts also recently issued reports on the company. ValuEngine downgraded AutoNation from a hold rating to a sell rating in a research note on Monday, August 13th. Wolfe Research downgraded AutoNation from a market perform rating to an underperform rating and cut their price objective for the company from $46.00 to $37.00 in a research note on Tuesday, October 2nd. TheStreet downgraded AutoNation from a b- rating to a c+ rating in a research note on Tuesday, September 25th. Buckingham Research cut their price objective on AutoNation from $51.00 to $47.00 and set a neutral rating for the company in a research note on Thursday, August 2nd. Finally, Morgan Stanley downgraded AutoNation from an overweight rating to an underweight rating and set a $57.00 price objective for the company. in a research note on Tuesday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $51.14.

AutoNation stock opened at $42.65 on Wednesday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.19 and a beta of 1.25. AutoNation has a 52-week low of $37.64 and a 52-week high of $62.02. The company has a quick ratio of 0.20, a current ratio of 0.86 and a debt-to-equity ratio of 0.78.



AutoNation (NYSE:AN) last released its quarterly earnings results on Wednesday, August 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.01. The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. AutoNation had a return on equity of 16.64% and a net margin of 2.02%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. On average, sell-side analysts expect that AutoNation will post 4.7 earnings per share for the current fiscal year.

In related news, CAO Christopher Cade sold 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $47.96, for a total value of $69,206.28. Following the transaction, the chief accounting officer now directly owns 1,199 shares of the company’s stock, valued at approximately $57,504.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Rick L. Burdick sold 4,808 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $47.00, for a total value of $225,976.00. Following the completion of the transaction, the director now directly owns 38,686 shares in the company, valued at $1,818,242. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,455 shares of company stock valued at $2,028,929. 2.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in AutoNation in the 2nd quarter worth approximately $222,000. Oakbrook Investments LLC purchased a new position in AutoNation in the 3rd quarter worth approximately $204,000. Sigma Planning Corp purchased a new position in AutoNation in the 2nd quarter worth approximately $270,000. State of Alaska Department of Revenue lifted its holdings in AutoNation by 40.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,360 shares of the company’s stock worth $308,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in AutoNation in the 3rd quarter worth approximately $322,000. 66.00% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for AutoNation (NYSE:AN)

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