UBS AG Lowers AutoNation, Inc. (AN) to Neutral
AutoNation, Inc. (NYSE:AN) was downgraded by analysts at UBS AG from a “positive” rating to a “neutral” rating in a research report issued to clients and investors on Thursday.
AN has been the topic of several other research reports. Morgan Stanley cut their target price 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 cut their target price on AutoNation from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Thursday, August 3rd. Wells Fargo & Company restated a “market perform” rating and issued a $45.00 target price (down previously from $48.50) on shares of AutoNation in a research note on Monday, July 17th. ValuEngine cut AutoNation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, KeyCorp restated a “hold” rating on shares of AutoNation in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. AutoNation currently has an average rating of “Hold” and an average target price of $45.70.
AutoNation (AN) opened at 48.28 on Thursday. The firm has a market cap of $4.85 billion, a P/E 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 released its earnings results 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). The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS. On average, analysts predict that AutoNation will post $3.59 earnings per share for the current year.
AutoNation declared that its board has authorized a stock buyback program on Tuesday, August 29th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the business’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 transaction, the director now owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of AutoNation by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after purchasing an additional 24 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of AutoNation by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 9,065 shares of the company’s stock worth $383,000 after purchasing an additional 81 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of AutoNation by 0.5% during the 2nd quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock worth $759,000 after purchasing an additional 84 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of AutoNation by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,819 shares of the company’s stock worth $667,000 after purchasing an additional 89 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of AutoNation by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock worth $687,000 after purchasing an additional 100 shares during the last quarter. 73.42% of the stock is currently owned by hedge funds and other institutional investors.
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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