Morgan Stanley Boosts AutoNation (NYSE:AN) Price Target to $39.00

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AutoNation (NYSE:AN) had its price target hoisted by Morgan Stanley from $35.00 to $39.00 in a research note published on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the stock.

Several other equities research analysts also recently commented on the company. TheStreet upgraded AutoNation from a c+ rating to a b rating in a report on Tuesday, July 23rd. SunTrust Banks lifted their price objective on AutoNation to $43.00 and gave the stock a hold rating in a report on Tuesday, April 30th. Longbow Research reiterated a hold rating on shares of AutoNation in a report on Sunday, July 7th. Finally, ValuEngine downgraded AutoNation from a hold rating to a sell rating in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $41.38.

NYSE AN opened at $47.53 on Friday. AutoNation has a one year low of $32.83 and a one year high of $49.61. The stock has a 50-day simple moving average of $43.61. The company has a market cap of $4.23 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 3.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.83 and a quick ratio of 0.20.

AutoNation (NYSE:AN) last released its quarterly earnings data on Monday, July 22nd. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.08 by $0.12. AutoNation had a return on equity of 15.10% and a net margin of 1.89%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the company earned $1.14 EPS. AutoNation’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate that AutoNation will post 4.43 EPS for the current year.

In other AutoNation news, Director Robert R. Grusky sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the sale, the director now directly owns 44,611 shares in the company, valued at approximately $2,007,495. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael J. Jackson sold 37,104 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $41.93, for a total value of $1,555,770.72. Following the sale, the chairman now owns 204,790 shares of the company’s stock, valued at $8,586,844.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,670,911 shares of company stock valued at $79,390,628. Corporate insiders own 2.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of AutoNation by 29.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,190,500 shares of the company’s stock valued at $113,965,000 after buying an additional 723,400 shares in the last quarter. Investec Asset Management LTD purchased a new position in shares of AutoNation during the 1st quarter valued at about $19,154,000. Norges Bank purchased a new position in shares of AutoNation during the 4th quarter valued at about $16,277,000. Dimensional Fund Advisors LP lifted its position in shares of AutoNation by 9.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,051,749 shares of the company’s stock valued at $108,946,000 after buying an additional 256,337 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of AutoNation during the 4th quarter valued at about $3,332,000. Institutional investors and hedge funds own 65.21% of the company’s stock.

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.

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Analyst Recommendations for AutoNation (NYSE:AN)

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