Seaport Res Ptn Equities Analysts Cut Earnings Estimates for AutoNation, Inc. (NYSE:AN)

AutoNation, Inc. (NYSE:AN) – Investment analysts at Seaport Res Ptn cut their Q1 2024 earnings per share (EPS) estimates for shares of AutoNation in a research note issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $4.27 per share for the quarter, down from their previous estimate of $4.35. The consensus estimate for AutoNation’s current full-year earnings is $18.92 per share. Seaport Res Ptn also issued estimates for AutoNation’s FY2024 earnings at $18.70 EPS.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.17. AutoNation had a return on equity of 48.76% and a net margin of 3.79%. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the business posted $6.37 EPS. The business’s revenue was up 1.1% compared to the same quarter last year.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company increased their target price on AutoNation from $144.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. Evercore ISI began coverage on AutoNation in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 target price for the company. StockNews.com downgraded AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Morgan Stanley upgraded AutoNation from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, February 29th. Finally, Guggenheim raised their price objective on AutoNation from $165.00 to $169.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.00.

AutoNation Stock Performance

AN opened at $158.36 on Monday. The firm has a market cap of $6.60 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.24. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.23 and a current ratio of 0.77. The business’s fifty day moving average is $152.92 and its 200-day moving average is $144.27.

Hedge Funds Weigh In On AutoNation

Institutional investors have recently bought and sold shares of the stock. First United Bank & Trust purchased a new position in shares of AutoNation in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC purchased a new position in shares of AutoNation in the fourth quarter valued at about $27,000. Anchor Investment Management LLC purchased a new position in shares of AutoNation in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in shares of AutoNation in the fourth quarter valued at about $30,000. Finally, Avalon Trust Co purchased a new stake in shares of AutoNation in the fourth quarter worth about $32,000. 94.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AutoNation news, Director Lisa Lutoff-Perlo sold 3,671 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $149.67, for a total transaction of $549,438.57. Following the sale, the director now directly owns 6,182 shares in the company, valued at approximately $925,259.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AutoNation news, Director Lisa Lutoff-Perlo sold 3,671 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $149.67, for a total transaction of $549,438.57. Following the sale, the director now directly owns 6,182 shares in the company, valued at approximately $925,259.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kimberly Dees sold 3,133 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $152.28, for a total value of $477,093.24. Following the completion of the transaction, the chief accounting officer now owns 464 shares in the company, valued at $70,657.92. The disclosure for this sale can be found here. Insiders have sold 121,279 shares of company stock worth $19,361,962 in the last 90 days. Insiders own 0.74% of the company’s stock.

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.