AutoNation Inc. (AN) Raised to Neutral at Goldman Sachs Group Inc.
AutoNation Inc. (NYSE:AN) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Thursday. The brokerage presently has a $49.00 target price on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential downside of 1.53% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other equities analysts have also weighed in on the stock. Seaport Global Securities began coverage on shares of AutoNation in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. TheStreet lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Jefferies Group boosted their price objective on shares of AutoNation from $50.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 1st. CL King began coverage on shares of AutoNation in a research report on Wednesday, September 7th. They issued a “buy” rating for the company. Finally, Wolfe Research began coverage on shares of AutoNation in a research report on Wednesday, August 31st. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AutoNation currently has an average rating of “Hold” and a consensus target price of $59.43.
AutoNation (NYSE:AN) traded up 0.36% during midday trading on Thursday, reaching $49.94. 220,820 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.10 billion, a P/E ratio of 12.85 and a beta of 1.10. The stock’s 50 day moving average is $48.25 and its 200 day moving average is $48.55. AutoNation has a 52 week low of $40.45 and a 52 week high of $65.51.
AutoNation (NYSE:AN) last announced its earnings results on Friday, July 29th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The company earned $5.44 billion during the quarter, compared to analysts’ expectations of $5.51 billion. AutoNation had a net margin of 1.99% and a return on equity of 19.91%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. On average, analysts expect that AutoNation will post $4.26 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. acquired a new stake in AutoNation during the first quarter valued at about $5,295,000. Quadrature Capital Ltd acquired a new stake in AutoNation during the first quarter valued at about $2,365,000. UBS Group AG increased its stake in AutoNation by 211.9% in the first quarter. UBS Group AG now owns 67,559 shares of the company’s stock valued at $3,153,000 after buying an additional 45,898 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in AutoNation during the first quarter valued at about $1,580,000. Finally, State Street Corp increased its stake in AutoNation by 0.3% in the first quarter. State Street Corp now owns 3,278,314 shares of the company’s stock valued at $153,021,000 after buying an additional 9,482 shares in the last quarter. Institutional investors own 69.12% of the company’s stock.
AutoNation Company Profile
AutoNation, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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