AutoNation (NYSE:AN) Price Target Raised to $155.00

AutoNation (NYSE:AN) had its price target boosted by JPMorgan Chase & Co. from $142.00 to $155.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 4.79% from the stock’s previous close.

AN has been the subject of a number of other research reports. Wells Fargo & Company upped their price target on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday. Evercore ISI initiated coverage on AutoNation in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price target on the stock. Bank of America reduced their price target on AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Guggenheim upped 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. Finally, Morgan Stanley raised AutoNation from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $117.00 to $140.00 in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.63.

AutoNation Trading Down 0.0 %

Shares of AN traded down $0.06 during mid-day trading on Thursday, hitting $162.79. The company had a trading volume of 81,115 shares, compared to its average volume of 460,350. AutoNation has a 1-year low of $123.81 and a 1-year high of $182.08. The business’s 50-day simple moving average is $155.71 and its 200-day simple moving average is $145.42. The stock has a market cap of $6.56 billion, a PE ratio of 7.72, a P/E/G ratio of 1.31 and a beta of 1.22. 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 posted its earnings results 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. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the prior year, the company earned $6.05 EPS. The company’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts forecast that AutoNation will post 18.73 earnings per share for the current year.

AutoNation announced that its board has authorized a share buyback plan on Friday, April 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 14.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at AutoNation

In other AutoNation news, CAO Kimberly Dees sold 3,133 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $152.28, for a total transaction of $477,093.24. Following the transaction, the chief accounting officer now owns 464 shares of the company’s stock, valued at approximately $70,657.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Kimberly Dees sold 3,133 shares of AutoNation stock in a transaction on Monday, March 4th. The stock was sold at an average price of $152.28, for a total transaction of $477,093.24. Following the transaction, the chief accounting officer now directly owns 464 shares in the company, valued at approximately $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 the company’s 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 completion of the sale, the director now owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,279 shares of company stock worth $21,041,962. Company insiders own 0.74% of the company’s stock.

Institutional Trading of AutoNation

Hedge funds and other institutional investors have recently made changes to their positions in the business. First United Bank & Trust purchased a new position in AutoNation in the 4th quarter worth about $26,000. Private Wealth Management Group LLC purchased a new stake in shares of AutoNation in the 4th quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new position in AutoNation in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new stake in AutoNation during the 4th quarter valued at $30,000. Finally, Avalon Trust Co purchased a new stake in shares of AutoNation in the fourth quarter valued at $32,000. 94.62% of the stock is currently owned by institutional investors.

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.