AutoNation, Inc. (NYSE: AN) saw a significant increase in short-term interest in October. As of October 29, there was short interest totaling 5,280,000 shares, an increase of 18.1% from the October 14 total of 4,470,000 shares. Based on an average daily trading volume of 1,120,000 shares, the day-to-coverage ratio is currently 4.7 days. Currently, 12.8% of the company’s shares are sold short.
A number of analysts weighed on AN shares. Stephens raised his target price on AutoNation shares from $ 120.00 to $ 141.00 and gave the stock an “equal weight” rating in a report released on Friday, October 22. Truist increased its target price on AutoNation shares from $ 110.00 to $ 130.00 and assigned the stock a “hold” rating in a report released on Friday, October 22. They noted that the move was an appraisal call. Morgan Stanley lowered its target price on AutoNation shares from $ 116.00 to $ 103.00 and set an “equal weight” rating on the share in a report released on Wednesday, November 17. 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 report released on Friday, October 22. Five investment analysts gave the stock a conservation rating and two gave the company a buy rating. Based on MarketBeat data, AutoNation has an average “Hold” rating and a consensus target price of $ 129.29.
AutoNation stock opened at $ 117.85 on Monday. The company has a 50-day simple moving average of $ 120.72 and a 200-day simple moving average of $ 110.83. The company has a market cap of $ 7.72 billion, a P / E ratio of 8.11, a P / E / G ratio of 0.40 and a beta of 1.43. The company has a leverage ratio of 1.13, a quick ratio of 0.36, and a current ratio of 0.98. AutoNation has a one-year low of $ 59.52 and a one-year high of $ 133.48.
AutoNation (NYSE: AN) last released its quarterly 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. The company posted revenue of $ 6.38 billion in the quarter, compared to analysts’ estimates of $ 6.29 billion. AutoNation had a net margin of 4.54% and a return on equity of 41.00%. The company’s quarterly revenue increased 18.0% year-over-year. In the same quarter of the previous year, the company made a profit of $ 2.38 per share. As a group, sell-side analysts predict that AutoNation will post earnings per share of 17.27 for the current year.
AutoNation said its board of directors launched a share buyback plan on Thursday, October 21 that allows the company to repurchase $ 1.00 billion in shares. This buyback authorization authorizes the company to buy back up to 10.7% of its shares by way of purchase on the market. Share buyback plans are often a sign that company management believes its shares are undervalued.
Separately, main shareholder Cascade Investment, LLC sold 222,744 shares of the company in a trade on Monday, September 27. The shares were sold at an average price of $ 125.13, for a total transaction of $ 27,871,956.72. The transaction was disclosed in a legal file with the SEC, which is available through this hyperlink. In addition, CEO Michael J. Jackson sold 47,731 shares of the company in a trade on Friday, October 22. The shares were sold at an average price of $ 131.15, for a total trade of $ 6,259,920.65. Disclosure of this sale can be found here. During the last quarter, insiders 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 institutional investors and hedge funds have recently changed their positions in AN. Heritage Wealth Management LLC increased its position in AutoNation by 89.2% in the 2nd quarter. Heritage Wealth Management LLC now owns 350 shares of the company valued at $ 33,000 after purchasing 165 more shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in AutoNation in the 2nd quarter for a value of approximately $ 37,000. First Horizon Advisors Inc. purchased a new position in AutoNation in Q3 valued at approximately $ 38,000. Atticus Wealth Management LLC acquired a new stake in AutoNation in the 3rd quarter for a value of approximately $ 43,000. Finally, the Canada Pension Plan Investment Board acquired a new stake in AutoNation in the second quarter for a value of approximately $ 55,000. Hedge funds and other institutional investors hold 95.26% of the company’s shares.
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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