AutoNation, Inc. (NYSE:AN) Receives $173.00 Consensus PT from Brokerages

AutoNation, Inc. (NYSE:AN) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $175.38.

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Guggenheim raised their price target on shares of AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company raised their price target on shares of AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI started coverage on shares of AutoNation in a report on Wednesday, January 17th. They set an “outperform” rating and a $185.00 price target on the stock. Finally, Bank of America cut their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Insider Transactions at AutoNation

In other news, major shareholder Edward S. Lampert sold 10,804 shares of AutoNation stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the sale, the insider now directly owns 4,267,860 shares in the company, valued at approximately $659,640,441.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the transaction, the director now directly owns 48,793 shares in the company, valued at $8,197,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 10,804 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the transaction, the insider now owns 4,267,860 shares in the company, valued at $659,640,441.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,279 shares of company stock worth $21,041,962. 0.74% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoNation

A number of large investors have recently modified their holdings of AN. Invesco Ltd. increased its stake in AutoNation by 31.8% in the third quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock valued at $114,300,000 after purchasing an additional 181,942 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of AutoNation by 47.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after buying an additional 109,571 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of AutoNation by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,991 shares of the company’s stock valued at $45,203,000 after buying an additional 1,166 shares during the period. Norges Bank acquired a new position in AutoNation during the fourth quarter worth $42,748,000. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in AutoNation by 1.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 267,650 shares of the company’s stock worth $44,317,000 after purchasing an additional 4,720 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Trading Up 1.1 %

Shares of NYSE:AN opened at $162.85 on Friday. The firm has a fifty day moving average of $155.71 and a two-hundred day moving average of $145.42. The firm has a market capitalization of $6.56 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 1.34 and a beta of 1.24. AutoNation has a 12-month low of $123.81 and a 12-month high of $182.08. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 1.47.

AutoNation (NYSE:AN) last issued its 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 analyst estimates of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $6.05 EPS. On average, equities analysts expect that AutoNation will post 18.83 EPS for the current fiscal year.

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

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.