AutoNation (NYSE: AN) was lifted by Morgan Stanley analysts from an “underweight” rating to an “equal weight” rating in a report released Tuesday, The Fly reported.
Other stock analysts have also recently published research reports on the stock. 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 research note on Friday, July 16. Truist raised its price target for AutoNation shares from $ 100.00 to $ 110.00 and assigned the company a “conservation” rating in a research note on Tuesday, July 20. Five analysts gave the stock a conservation rating and two gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $ 107.67.
AN traded at $ 1.93 on Tuesday, hitting $ 122.48. The company had a trading volume of 834,488 shares, compared to an average volume of 936,007. The company has a rapid ratio of 0.34, a current ratio of 0.92 and a debt ratio of 0.63. The stock has a market cap of $ 8.77 billion, a PE ratio of 10.69, a P / E / G ratio of 0.35, and a beta of 1.60. AutoNation has a one-year minimum of $ 51.32 and a one-year maximum of $ 128.00. The stock has a 50-day moving average price of $ 114.72 and a 200-day moving average price of $ 103.42.
AutoNation (NYSE: AN) last released its quarterly results on Sunday, July 18. The company reported earnings per share (EPS) of $ 4.83 for the quarter, beating analyst consensus estimates of $ 2.81 by $ 2.02. AutoNation had a net margin of 3.98% and a return on equity of 33.01%. The company posted revenue of $ 6.98 billion for the quarter, compared to analysts’ estimates of $ 6.07 billion. During the same period of the previous year, the company posted earnings per share of $ 1.41. The company’s turnover is up 53.9% compared to the same quarter last year. As a group, analysts expect AutoNation to post earnings per share of 14.84 for the current year.
AutoNation announced that its board of directors launched a share buyback plan on Monday, July 19 that allows the company to repurchase $ 1.00 billion in shares. This buyback authorization allows the company to buy up to 10.6% of its shares through market purchases. Share buyback plans are usually a sign that company management believes its shares are undervalued.
In other AutoNation news, COO James R. Bender sold 2,848 shares of the company in a trade on Friday, August 6. The shares were sold for an average price of $ 117.81, for a total value of $ 335,522.88. As a result of the sale, the COO now owns 8,459 shares of the company, valued at approximately $ 996,554.79. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at 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 at an average price of $ 124.02, for a total transaction of $ 7,205,437.98. Disclosure of this sale can be found here. Insiders sold 297,635 shares of the company valued at $ 35,581,350 during the last quarter. Company insiders own 1.50% of the company’s shares.
A number of large investors have recently increased or reduced their stakes in the company. Logan Capital Management Inc. purchased a new position in AutoNation in the first quarter valued at approximately $ 26,000. Van ECK Associates Corp acquired a new position in AutoNation shares in the first quarter valued at approximately $ 27,000. 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 acquiring 165 additional shares during the period. DekaBank Deutsche Girozentrale acquired a new position in AutoNation shares in the second quarter valued at approximately $ 37,000. Finally, the Canada Pension Plan Investment Board purchased a new stake in AutoNation in the second quarter valued at approximately $ 55,000. 59.75% of the shares are held by hedge funds and other institutional investors.
AutoNation Company Profile
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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