AutoNation’s (AN) Hold Rating Reaffirmed at Jefferies Group LLC
AutoNation, Inc. (NYSE:AN)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a research note issued to investors on Sunday. They currently have a $44.00 price target on the stock. Jefferies Group LLC’s target price suggests a potential downside of 2.00% from the company’s previous close.
AN has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Deutsche Bank AG decreased their target price on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. ValuEngine lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Company restated a “market perform” rating and set a $45.00 target price (down previously from $48.50) on shares of AutoNation in a research report on Monday, July 17th. Finally, BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.70.
AutoNation (AN) opened at 44.90 on Friday. The company has a 50-day moving average price of $42.28 and a 200-day moving average price of $42.05. AutoNation has a 12-month low of $38.20 and a 12-month high of $53.74. The firm has a market capitalization of $4.51 billion, a PE ratio of 11.18 and a beta of 1.22.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.12. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period last year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that AutoNation will post $3.59 earnings per share for the current year.
AutoNation declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 29th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of AutoNation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the transaction, the director now owns 30,713 shares in the company, valued at approximately $1,197,499.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AN. Nationwide Fund Advisors boosted its holdings in shares of AutoNation by 1.9% in the 1st quarter. Nationwide Fund Advisors now owns 27,268 shares of the company’s stock valued at $1,153,000 after purchasing an additional 511 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in shares of AutoNation by 35.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,943 shares of the company’s stock valued at $293,000 after purchasing an additional 1,828 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of AutoNation by 3.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,265 shares of the company’s stock valued at $476,000 after purchasing an additional 327 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of AutoNation by 5.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 58,208 shares of the company’s stock valued at $2,460,000 after purchasing an additional 2,880 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of AutoNation by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 180,709 shares of the company’s stock valued at $7,642,000 after purchasing an additional 3,003 shares during the last quarter. 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.
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