AutoNation (NYSE:AN) Price Target Raised to $246.00 at Argus

AutoNation (NYSE:AN) had its price objective increased by equities researchers at Argus from $241.00 to $246.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ target price suggests a potential upside of 18.26% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Seaport Research Partners restated a “buy” rating and issued a $255.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Northcoast Research upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 target price for the company in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AutoNation in a research report on Monday, August 3rd. Wells Fargo & Company increased their price objective on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, UBS Group reissued a “buy” rating and issued a $248.00 price target on shares of AutoNation in a research note on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

AutoNation Stock Down 0.6%

Shares of NYSE AN opened at $208.02 on Tuesday. AutoNation has a 52-week low of $176.62 and a 52-week high of $235.81. The company’s 50 day moving average price is $198.20 and its 200-day moving average price is $198.32. The company has a market capitalization of $6.88 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm posted $2.26 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts forecast that AutoNation will post 21.56 earnings per share for the current year.

Insider Buying and Selling at AutoNation

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On AutoNation

Several hedge funds have recently made changes to their positions in AN. Brandywine Global Investment Management LLC raised its holdings in shares of AutoNation by 27.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company’s stock valued at $11,825,000 after purchasing an additional 12,210 shares during the last quarter. WINTON GROUP Ltd bought a new position in AutoNation during the fourth quarter valued at approximately $6,443,000. Intech Investment Management LLC boosted its holdings in AutoNation by 180.1% in the fourth quarter. Intech Investment Management LLC now owns 13,206 shares of the company’s stock worth $2,727,000 after purchasing an additional 8,491 shares during the last quarter. Leonteq Securities AG purchased a new stake in AutoNation in the fourth quarter worth approximately $2,247,000. Finally, Evolve Private Wealth LLC purchased a new stake in AutoNation in the fourth quarter worth approximately $4,077,000. 94.62% of the stock is currently owned by institutional investors.

About AutoNation

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.