AutoNation (NYSE:AN) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of AutoNation (NYSE:AN) from a neutral rating to an overweight rating in a research note published on Friday morning, Marketbeat Ratings reports. They currently have $235.00 price target on the stock.

AN has been the topic of a number of other research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of AutoNation in a research note on Monday, December 29th. Citigroup lifted their target price on shares of AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley upped their target price on shares of AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Barclays began coverage on shares of AutoNation in a research note on Tuesday, November 11th. They set an “overweight” rating and a $250.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on AutoNation from $220.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.22.

AutoNation Stock Up 0.4%

AN stock opened at $215.24 on Friday. AutoNation has a twelve month low of $148.33 and a twelve month high of $228.92. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93. The company has a market cap of $7.85 billion, a PE ratio of 12.66 and a beta of 0.88. The business’s 50-day simple moving average is $208.61 and its 200 day simple moving average is $209.78.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.16. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.74 billion. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $4.02 EPS. On average, research analysts anticipate that AutoNation will post 18.15 earnings per share for the current year.

AutoNation announced that its board has authorized a share buyback plan on Friday, October 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of AutoNation

Hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. bought a new position in AutoNation during the third quarter worth about $31,000. Root Financial Partners LLC acquired a new stake in shares of AutoNation in the 3rd quarter valued at approximately $37,000. Smartleaf Asset Management LLC boosted its stake in AutoNation by 355.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock worth $38,000 after acquiring an additional 135 shares during the last quarter. Employees Retirement System of Texas acquired a new position in AutoNation during the third quarter valued at approximately $48,000. Finally, SJS Investment Consulting Inc. increased its stake in AutoNation by 2,477.8% in the third quarter. SJS Investment Consulting Inc. now owns 232 shares of the company’s stock valued at $51,000 after purchasing an additional 223 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.