AutoNation, Inc. (NYSE:AN) Receives $183.25 Average Price Target from Analysts

AutoNation, Inc. (NYSE:AN) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $183.25.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Guggenheim upped their target price on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Evercore ISI upped their target price on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Bank of America reduced their target price on AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th.

AutoNation Price Performance

Shares of AN stock opened at $170.48 on Thursday. The stock’s 50-day simple moving average is $165.24 and its 200-day simple moving average is $155.62. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 3.24 and a beta of 1.21. AutoNation has a fifty-two week low of $123.81 and a fifty-two week high of $182.08. 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 announced 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. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. AutoNation’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.05 earnings per share. As a group, equities analysts forecast that AutoNation will post 18.44 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other AutoNation news, Director David B. Edelson sold 10,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the sale, the director now owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoNation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Realta Investment Advisors grew its stake in AutoNation by 5.4% during the 4th quarter. Realta Investment Advisors now owns 1,410 shares of the company’s stock worth $212,000 after buying an additional 72 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of AutoNation by 1.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,061 shares of the company’s stock valued at $610,000 after purchasing an additional 74 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of AutoNation by 45.1% in the 1st quarter. Fifth Third Bancorp now owns 238 shares of the company’s stock valued at $39,000 after purchasing an additional 74 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in shares of AutoNation by 4.6% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,712 shares of the company’s stock valued at $257,000 after purchasing an additional 76 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of AutoNation by 0.3% in the first quarter. Retirement Systems of Alabama now owns 32,570 shares of the company’s stock valued at $5,393,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds 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.