AutoNation, Inc. (AN) Cut to Hold at ValuEngine
ValuEngine lowered shares of AutoNation, Inc. (NYSE:AN) from a buy rating to a hold rating in a research note released on Friday.
AN has been the topic of several other reports. Deutsche Bank AG reiterated a hold rating and issued a $43.00 price target (down from $46.00) on shares of AutoNation in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a hold rating and issued a $49.00 price target on shares of AutoNation in a research note on Thursday, July 6th. Buckingham Research lowered their price target on shares of AutoNation from $44.00 to $35.00 and set a neutral rating on the stock in a research note on Thursday, August 3rd. BidaskClub lowered shares of AutoNation from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Finally, Northcoast Research upgraded shares of AutoNation from a neutral rating to a buy rating and set a $51.00 price target on the stock in a research note on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. AutoNation has an average rating of Hold and an average price target of $46.20.
Shares of AutoNation (NYSE:AN) opened at 45.52 on Friday. The company has a market capitalization of $4.57 billion, a PE ratio of 11.33 and a beta of 1.22. The company has a 50-day moving average of $41.98 and a 200-day moving average of $42.12. AutoNation has a one year low of $38.20 and a one year high of $53.74.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by $0.12. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, analysts anticipate that AutoNation will post $3.59 earnings per share for the current year.
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AutoNation declared that its board has authorized a stock repurchase program on Tuesday, August 29th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.99, for a total transaction of $109,172.00. Following the transaction, the director now directly 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 can be accessed through the SEC website. 3.10% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in AN. Teachers Advisors LLC increased its stake in shares of AutoNation by 8.7% during the 4th quarter. Teachers Advisors LLC now owns 79,331 shares of the company’s stock worth $3,859,000 after purchasing an additional 6,370 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of AutoNation by 1.9% during the 1st quarter. Nationwide Fund Advisors now owns 27,268 shares of the company’s stock worth $1,153,000 after buying an additional 511 shares during the period. ProShare Advisors LLC boosted its holdings in shares of AutoNation by 34.5% during the 1st quarter. ProShare Advisors LLC now owns 45,371 shares of the company’s stock worth $1,919,000 after buying an additional 11,646 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of AutoNation by 35.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,943 shares of the company’s stock worth $293,000 after buying an additional 1,828 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of AutoNation by 3.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,265 shares of the company’s stock worth $476,000 after buying an additional 327 shares during the period. Institutional investors own 73.44% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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