AutoNation’s (AN) “Negative” Rating Reaffirmed at Susquehanna Bancshares Inc
AutoNation, Inc. (NYSE:AN)‘s stock had its “negative” rating restated by stock analysts at Susquehanna Bancshares Inc in a research report issued to clients and investors on Thursday.
Several other brokerages also recently weighed in on AN. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. KeyCorp reiterated a “hold” rating on shares of AutoNation in a research note on Friday, September 1st. 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. Jefferies Group LLC reiterated a “hold” rating and set a $44.00 price target on shares of AutoNation in a research note on Sunday, September 10th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $46.00 price target (down previously from $50.00) on shares of AutoNation in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.70.
Shares of AutoNation (AN) opened at 48.28 on Thursday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 12.02 and a beta of 1.22. AutoNation has a 12 month low of $38.20 and a 12 month high of $53.74. The company has a 50-day moving average price of $42.99 and a 200-day moving average price of $41.95.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter last year, the business earned $1.08 earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that AutoNation will post $3.59 EPS for the current year.
AutoNation announced that its board has approved a share buyback plan on Tuesday, August 29th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Robert R. Grusky sold 2,800 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.99, for a total transaction of $109,172.00. Following the completion of the sale, the director now owns 30,713 shares of the company’s stock, valued at $1,197,499.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.
A number of large investors have recently bought and sold shares of AN. Nordea Investment Management AB lifted its position in AutoNation by 43.8% during the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock valued at $139,000 after acquiring an additional 1,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in AutoNation during the first quarter valued at approximately $206,000. Achmea Investment Management B.V. purchased a new stake in AutoNation during the first quarter valued at approximately $209,000. Invictus RG lifted its position in AutoNation by 58.2% during the first quarter. Invictus RG now owns 4,981 shares of the company’s stock valued at $211,000 after acquiring an additional 1,833 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in AutoNation by 8.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock valued at $215,000 after acquiring an additional 372 shares during the last quarter. 73.42% of the stock is owned by institutional investors.
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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