AutoNation, Inc. (AN) Receives “Hold” Rating from KeyCorp
Several other research analysts also recently commented on AN. ValuEngine downgraded AutoNation from a buy rating to a hold rating in a research note on Friday, June 2nd. Northcoast Research raised AutoNation from a neutral rating to a buy rating and set a $51.00 price objective on the stock in a research note on Thursday, June 8th. Morgan Stanley decreased their price objective on AutoNation from $57.00 to $53.00 and set an overweight rating on the stock in a research note on Friday, June 9th. Deutsche Bank AG reaffirmed a hold rating and issued a $46.00 price objective (down previously from $50.00) on shares of AutoNation in a research note on Thursday, June 22nd. Finally, BidaskClub raised AutoNation from a strong sell rating to a sell rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. AutoNation currently has a consensus rating of Hold and an average target price of $46.20.
Shares of AutoNation (AN) traded up 0.33% during midday trading on Friday, reaching $45.52. The company had a trading volume of 1,615,476 shares. The company’s 50-day moving average is $41.98 and its 200-day moving average is $42.12. AutoNation has a 1-year low of $38.20 and a 1-year high of $53.74. The stock has a market capitalization of $4.57 billion, a PE ratio of 11.33 and a beta of 1.22.
AutoNation (NYSE:AN) last posted its earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by $0.12. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that AutoNation will post $3.59 EPS for the current year.
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AutoNation declared that its board has authorized a stock repurchase plan on Tuesday, August 29th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the completion of the transaction, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Cambiar Investors LLC raised its stake in AutoNation by 8.7% in the first quarter. Cambiar Investors LLC now owns 201,228 shares of the company’s stock valued at $8,510,000 after buying an additional 16,075 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in AutoNation by 134.0% in the first quarter. BNP Paribas Arbitrage SA now owns 47,976 shares of the company’s stock valued at $2,029,000 after buying an additional 27,474 shares during the last quarter. Elkfork Partners LLC raised its stake in AutoNation by 69.3% in the first quarter. Elkfork Partners LLC now owns 38,632 shares of the company’s stock valued at $1,634,000 after buying an additional 15,818 shares during the last quarter. Princeton Alpha Management LP bought a new stake in AutoNation during the first quarter valued at about $567,000. Finally, DekaBank Deutsche Girozentrale raised its stake in AutoNation by 178.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,454 shares of the company’s stock valued at $198,000 after buying an additional 2,854 shares during the last quarter. 73.44% of the stock is owned by institutional investors and hedge funds.
AutoNation Company Profile
AutoNation, Inc (AutoNation) 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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