Shares of AutoNation, Inc. (NYSE: AN) hit a new 52-week high on Monday after Truist raised its share price target from $ 110.00 to $ 130.00. Truist currently has a hold rating on the stock. AutoNation traded as high as $ 133.39 and last traded at $ 133.00, with 35,981 shares traded in volume. The stock previously closed at $ 130.48.
Several other analysts have also weighed on AN recently. Bank of America raised its price target for AutoNation shares from $ 161.00 to $ 171.00 and gave the company a “buy” rating in a report released on Friday, July 16. Morgan Stanley Upgraded AutoNation Shares From “Underweight” To “On Equal” Rating And Raised Its Price Target For The Company From $ 70.00 To $ 116.00 In Released Report Tuesday September 28. Stephens raised its price target on AutoNation shares from $ 120.00 to $ 141.00 and gave the company an “equal weight” rating in a report released Friday. Finally, Benchmark increased its target price on AutoNation shares from $ 165.00 to $ 185.00 and gave the company a “buy” rating in a report released Friday. Five investment analysts gave the stock a conservation rating and two gave the company’s stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $ 131.14.
Meanwhile, CEO Michael J. Jackson sold 47,932 shares in a trade on Wednesday, July 28. The stock was sold for an average price of $ 116.95, for a total trade of $ 5,605,647.40. As a result of the sale, the CEO now owns 163,217 shares of the company, valued at approximately $ 19,088,228.15. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. Additionally, main shareholder Cascade Investment, LLC sold 127,026 shares in a trade on Wednesday, October 20. The stock was sold for an average price of $ 119.12, for a total value of $ 15,131,337.12. Disclosure of this sale can be found here. Insiders have sold a total of 1,032,626 shares of the company valued at $ 125,828,186 in the past 90 days. 1.50% of the shares are currently held by insiders.
Several institutional investors and hedge funds have recently bought and sold AN shares. Royal Bank of Canada increased its position in AutoNation by 11.2% in the first quarter. Royal Bank of Canada now owns 74,737 shares of the company valued at $ 6,967,000 after purchasing an additional 7,527 shares in the last quarter. Lido Advisors LLC strengthened its position in AutoNation by 32.1% in the second quarter. Lido Advisors LLC now owns 5,752 shares of the company valued at $ 545,000 after purchasing an additional 1,399 shares in the last quarter. Ohio’s public employee pension system increased its holdings in AutoNation by 10.4% in the first quarter. The Ohio Public Employee Retirement System now owns 36,729 shares of the company valued at $ 3,424,000 after acquiring 3,475 more shares in the last quarter. Lincoln Capital Corp acquired a new stake in AutoNation in the second quarter valued at approximately $ 244,000. Finally, the South Dakota Investment Council increased its stake in AutoNation by 66.0% in the first quarter. The South Dakota Investment Board now owns 40,957 shares of the company valued at $ 3,818,000 after acquiring an additional 16,278 shares in the last quarter. 59.75% of the shares are currently held by institutional investors and hedge funds.
The company has a leverage ratio of 0.63, a current ratio of 0.92, and a quick ratio of 0.34. The company has a market cap of $ 9.52 billion, a price / earnings ratio of 11.39, a P / E / G ratio of 0.35, and a beta of 1.60. The company has a fifty-day simple moving average of $ 114.96 and a two-hundred-day simple moving average of $ 106.52.
AutoNation (NYSE: AN) last reported its quarterly results on Wednesday, October 20. The company reported earnings per share (EPS) of $ 5.12 for the quarter, beating the consensus estimate of $ 4.20 by $ 0.92. AutoNation posted a return on equity of 33.01% and a net margin of 3.98%. The company posted revenue of $ 6.38 billion in the quarter, compared to $ 6.29 billion expected by analysts. During the same period last year, the company posted earnings per share of $ 2.38. The company’s revenue for the quarter increased 18.0% from the same quarter last year. Stock analysts predict that AutoNation, Inc. will post 14.84 earnings per share for the current fiscal year.
AutoNation announced that its board of directors approved a stock repurchase plan on Monday, July 19 that allows the company to repurchase $ 1.00 billion of outstanding shares. This buyback authorization allows the company to buy back up to 10.6% of its shares by way of purchase on the market. Share buyback plans usually indicate that company management believes its shares are undervalued.
AutoNation Company Profile (NYSE: AN)
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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