AutoNation, Inc. (NYSE:AN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AutoNation, Inc. (NYSE:AN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $176.63.

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Guggenheim upped their target price on shares of AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price target on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, Evercore ISI started coverage on AutoNation in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price objective for the company.

Insider Transactions at AutoNation

In other news, Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $168.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Kimberly Dees sold 3,133 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $152.28, for a total value of $477,093.24. Following the transaction, the chief accounting officer now owns 464 shares of the company’s stock, valued at $70,657.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction on Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the sale, the director now directly owns 48,793 shares of the company’s stock, valued at $8,197,224. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,279 shares of company stock worth $21,041,962. 0.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of AutoNation during the fourth quarter valued at approximately $42,748,000. Invesco Ltd. boosted its position in AutoNation by 31.8% during the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock valued at $114,300,000 after acquiring an additional 181,942 shares in the last quarter. Eminence Capital LP increased its holdings in shares of AutoNation by 84.4% in the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock valued at $39,338,000 after acquiring an additional 119,866 shares during the period. Wedge Capital Management L L P NC raised its position in shares of AutoNation by 47.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock worth $51,491,000 after acquiring an additional 109,571 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of AutoNation by 137.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 167,178 shares of the company’s stock worth $25,311,000 after purchasing an additional 96,797 shares during the last quarter. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Up 1.1 %

Shares of AN stock opened at $165.03 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 3.05 and a beta of 1.22. AutoNation has a 12-month low of $123.81 and a 12-month high of $182.08. The stock’s 50-day moving average price is $156.70 and its 200-day moving average price is $145.73.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.49 billion. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.05 EPS. Equities research analysts predict that AutoNation will post 18.73 EPS for the current fiscal year.

AutoNation announced that its board has authorized a share repurchase program on Friday, April 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 14.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership 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.