AutoNation (NYSE:AN) Raised to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of AutoNation (NYSE:AN) from an equal weight rating to an overweight rating in a research note released on Wednesday, MarketBeat reports. The brokerage currently has $200.00 price objective on the stock, up from their prior price objective of $145.00.

Other analysts have also issued reports about the company. Bank of America lifted 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. Stephens started coverage on shares of AutoNation in a report on Thursday, September 12th. They issued an overweight rating and a $210.00 price target on the stock. Wells Fargo & Company increased their price target on shares of AutoNation from $164.00 to $187.00 and gave the company an equal weight rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of AutoNation from $160.00 to $190.00 and gave the stock a neutral rating in a research report on Tuesday, September 10th. Finally, Evercore ISI increased their target price on shares of AutoNation from $200.00 to $220.00 and gave the company an outperform rating in a research report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, AutoNation currently has a consensus rating of Moderate Buy and a consensus target price of $201.75.

AutoNation Stock Performance

NYSE AN opened at $182.61 on Wednesday. The company has a fifty day moving average price of $173.00 and a 200-day moving average price of $166.88. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 3.54 and a beta of 1.20. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.78 and a quick ratio of 0.21. AutoNation has a 1 year low of $123.81 and a 1 year high of $197.18.

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

Insider Transactions at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 53,562 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total transaction of $10,361,568.90. Following the sale, the insider now owns 3,825,838 shares of the company’s stock, valued at approximately $740,108,361.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 53,562 shares of AutoNation stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total transaction of $10,361,568.90. Following the completion of the transaction, the insider now owns 3,825,838 shares of the company’s stock, valued at approximately $740,108,361.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the sale, the insider now directly owns 3,825,338 shares in the company, valued at $696,441,036.28. The disclosure for this sale can be found here. Insiders sold 216,959 shares of company stock worth $39,346,744 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On AutoNation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AN. Riverview Trust Co purchased a new position in AutoNation in the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp bought a new position in AutoNation in the fourth quarter valued at $30,000. GAMMA Investing LLC raised its position in AutoNation by 90.6% during the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 96 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in AutoNation during the second quarter valued at about $37,000. Finally, Denali Advisors LLC lifted its stake in AutoNation by 79.7% during the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock worth $41,000 after purchasing an additional 110 shares during the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

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.