AutoNation (NYSE:AN) PT Raised to $187.00

AutoNation (NYSE:AN) had its target price boosted by research analysts at Wells Fargo & Company from $164.00 to $187.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 1.95% from the stock’s current price.

A number of other research firms have also issued reports on AN. Evercore ISI raised their price target on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Bank of America raised their price target on AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Guggenheim raised their price target on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

AutoNation Stock Performance

Shares of AN stock opened at $190.72 on Thursday. The stock’s 50-day moving average is $167.20 and its two-hundred day moving average is $158.32. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 3.51 and a beta of 1.21. AutoNation has a 1 year low of $123.81 and a 1 year high of $197.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.31 by ($0.32). The firm had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $6.72 billion. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $6.29 EPS. Analysts predict that AutoNation will post 17.96 earnings per share for the current year.

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

Insider Activity

In other news, major shareholder Edward S. Lampert sold 23,703 shares of AutoNation stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the completion of the sale, the insider now directly owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Edward S. Lampert sold 100,000 shares of AutoNation stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $176.21, for a total transaction of $17,621,000.00. Following the completion of the transaction, the insider now directly owns 3,880,467 shares in the company, valued at approximately $683,777,090.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edward S. Lampert sold 23,703 shares of AutoNation stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $172.29, for a total value of $4,083,789.87. Following the transaction, the insider now owns 3,980,467 shares of the company’s stock, valued at $685,794,659.43. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of AutoNation during the 4th quarter worth approximately $1,222,000. State Board of Administration of Florida Retirement System raised its holdings in AutoNation by 54.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,743 shares of the company’s stock valued at $8,568,000 after acquiring an additional 18,157 shares during the last quarter. Mutual Advisors LLC acquired a new position in AutoNation in the 1st quarter valued at $1,484,000. Sanders Morris Harris LLC acquired a new position in AutoNation in the 1st quarter valued at $828,000. Finally, First United Bank & Trust acquired a new position in AutoNation in the 4th quarter valued at $26,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

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.