Morgan Stanley Upgrades AutoNation (NYSE:AN) to “Overweight”

AutoNation (NYSE:AN) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, Marketbeat.com reports. The firm presently has a $200.00 price objective on the stock, up from their previous price objective of $145.00. Morgan Stanley’s target price points to a potential upside of 12.29% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Stephens initiated coverage on AutoNation in a report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price target for the company. Wells Fargo & Company increased their price target on AutoNation from $164.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Evercore ISI lifted their price objective on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Bank of America upped their price objective on shares of AutoNation from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and an average target price of $201.75.

AutoNation Trading Up 1.8 %

AN stock opened at $178.11 on Wednesday. The firm’s fifty day simple moving average is $172.82 and its two-hundred day simple moving average is $166.52. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 3.51 and a beta of 1.20. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65. AutoNation has a twelve month low of $123.81 and a twelve month high of $197.18.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.31 by ($0.32). AutoNation had a return on equity of 36.50% and a net margin of 2.93%. The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the company posted $6.29 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, analysts anticipate that AutoNation will post 17.67 earnings per share for the current year.

Insider Buying and Selling at AutoNation

In related news, major shareholder Edward S. Lampert sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the transaction, the insider now directly owns 3,825,338 shares in the company, valued at $696,441,036.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the insider now directly owns 3,980,467 shares of the company’s stock, valued at approximately $685,794,659.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the transaction, the insider now owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,959 shares of company stock worth $39,346,744. Company insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On AutoNation

A number of hedge funds have recently bought and sold shares of AN. Jones Financial Companies Lllp acquired a new position in AutoNation during the fourth quarter worth $30,000. GAMMA Investing LLC raised its position in shares of AutoNation by 90.6% during the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 96 shares during the last quarter. Riverview Trust Co purchased a new position in AutoNation in the 1st quarter valued at about $33,000. Ashton Thomas Private Wealth LLC acquired a new stake in AutoNation in the 2nd quarter worth about $37,000. Finally, Denali Advisors LLC increased its stake in AutoNation by 79.7% during the 1st quarter. Denali Advisors LLC now owns 248 shares of the company’s stock worth $41,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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.