Shares of AutoNation, Inc. (NYSE: AN) have received a consensus recommendation to “Hold” from the seven research companies that cover the company, reports MarketBeat.com. Five analysts rated the stock with a keep recommendation and two gave the company a buy recommendation. The 12-month average target price among brokers who updated their equity coverage in the past year is $ 129.29.
Several brokerages recently commented on AN. Morgan Stanley lowered its price target on AutoNation shares from $ 116.00 to $ 103.00 and set an “equal weight” rating for the company in a research report released on Wednesday, November 17. Truist raised its price target for AutoNation shares from $ 110.00 to $ 130.00 and assigned a “hold” rating to the stock in a report released on Friday, October 22. They noted that the move was an appraisal call. Stephens raised its price target for AutoNation shares from $ 120.00 to $ 141.00 and gave the company an “equal weight” rating in a Friday October 22nd research note. Finally, Benchmark increased its price target on AutoNation shares from $ 165.00 to $ 185.00 and assigned a “buy” rating to the stock in a research report on Friday, October 22.
Meanwhile, CEO Michael J. Jackson sold 47,731 shares of the company in a transaction that took place on Friday, October 22. The stock was sold for an average price of $ 131.15, for a total value of $ 6,259,920.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In addition, principal shareholder Cascade Investment, LLC sold 58,099 shares of the company in a trade on Friday, September 24. The shares were sold for an average price of $ 124.02, for a total value of $ 7,205,437.98. Disclosure of this sale can be found here. During the past ninety days, insiders have sold 1,305,886 shares of the company valued at $ 162,595,844. 1.50% of the capital is held by insiders.
A number of hedge funds and other institutional investors have recently bought and sold AN stock. Heritage Wealth Management LLC increased its stake in AutoNation shares by 89.2% in the second quarter. Heritage Wealth Management LLC now owns 350 shares of the company valued at $ 33,000 after purchasing 165 additional shares during the period. DekaBank Deutsche Girozentrale bought a new stake in AutoNation in the 2nd quarter for a value of approximately $ 37,000. First Horizon Advisors Inc. purchased a new stake in AutoNation in the third quarter for a value of approximately $ 38,000. Atticus Wealth Management LLC purchased a new stake in AutoNation during the third quarter valued at approximately $ 43,000. Finally, the Canada Pension Plan Investment Board purchased a new position in AutoNation during the second quarter valued at approximately $ 55,000. Institutional investors and hedge funds hold 95.26% of the company’s shares.
AN shares opened at $ 124.04 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.36, and a debt ratio of 1.13. The company’s fifty-day simple moving average is $ 122.46 and its two-hundred-day simple moving average is $ 112.26. AutoNation has a 12-month low of $ 65.45 and a 12-month high of $ 133.48. The stock has a market cap of $ 8.13 billion, a P / E ratio of 8.54, a price / earnings-growth ratio of 0.30, and a beta of 1.43.
AutoNation (NYSE: AN) last reported its results on Wednesday, October 20. The company reported EPS of $ 5.12 for the quarter, beating the consensus estimate of $ 4.20 by $ 0.92. AutoNation reported a return on equity of 41.00% and a net margin of 4.54%. The company posted revenue of $ 6.38 billion for the quarter, compared to analysts’ estimates of $ 6.29 billion. In the same quarter of the previous year, the company achieved EPS of $ 2.38. The company’s revenue for the quarter increased 18.0% from the same quarter last year. As a group, research analysts predict AutoNation will post 17.49 EPS for the current fiscal year.
AutoNation announced that its board of directors approved a share buyback program on Thursday, October 21 that allows the company to repurchase $ 1.00 billion in shares. This buyback authorization allows the company to buy back up to 10.7% of its shares by way of purchase on the market. Share buyback programs typically indicate that the board of directors of the company believes its shares are undervalued.
AutoNation, Inc is engaged in the provision of automotive products and services. It operates through the following segments: domestic, import, high-end luxury and corporate and others. The domestic segment includes retail auto franchises that sell new vehicles manufactured by General Motors, Ford and Chrysler.
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