AutoNation (NYSE:AN) Price Target Cut to $220.00 by Analysts at Barclays

AutoNation (NYSE:AN) had its price objective reduced by research analysts at Barclays from $230.00 to $220.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 18.36% from the stock’s previous close.

A number of other research firms have also commented on AN. JPMorgan Chase & Co. reduced their target price on AutoNation from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, October 6th. Zacks Research downgraded AutoNation from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Northcoast Research raised AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price objective on the stock in a research report on Tuesday, July 14th. Stephens lifted their price objective on AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, UBS Group cut their target price on shares of AutoNation from $248.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $229.00.

AutoNation Price Performance

Shares of AN opened at $185.87 on Tuesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78. The stock has a market cap of $6.14 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The firm’s 50-day simple moving average is $176.56 and its two-hundred day simple moving average is $193.59. AutoNation has a fifty-two week low of $151.82 and a fifty-two week high of $235.81.

AutoNation (NYSE:AN) last released its earnings results on Friday, October 30th. The company reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $5.08 by $0.03. AutoNation had a return on equity of 31.24% and a net margin of 2.82%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the firm posted $5.01 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Analysts anticipate that AutoNation will post 21.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the sale, the director owned 7,989 shares in the company, valued at approximately $1,757,580. This represents a 10.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AN. Parkside Financial Bank & Trust boosted its holdings in shares of AutoNation by 73.9% in the second quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock valued at $36,000 after acquiring an additional 82 shares in the last quarter. Bessemer Group Inc. lifted its position in AutoNation by 33.0% in the first quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock worth $59,000 after purchasing an additional 76 shares during the period. Global Retirement Partners LLC bought a new position in AutoNation during the 2nd quarter valued at about $63,000. Heritage Family Offices LLP bought a new position in AutoNation in the 3rd quarter worth approximately $67,000. Finally, Root Financial Partners LLC bought a new stake in shares of AutoNation during the 3rd quarter valued at $85,000. 94.62% of the stock is owned by institutional investors.

AutoNation Company Profile

AutoNation, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of dealerships and online sales channels. The company represents a range of domestic, import and luxury automotive brands, offering passenger cars, trucks and sport utility vehicles.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision-repair services, vehicle protection products and financing options. Its retail operations include traditional dealerships as well as AutoNation USA locations, which focus primarily on used vehicles and related services.

Founded in 1996 as Republic Industries, the company adopted the AutoNation name as it developed its automotive retail business.