Brokerages Set AutoNation, Inc. (NYSE:AN) Price Target at $173.00

Shares of AutoNation, Inc. (NYSE:AN) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $176.63.

Several research firms have issued reports on AN. JPMorgan Chase & Co. raised their target price on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI started coverage on shares of AutoNation in a report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Guggenheim boosted their price target on shares of AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Bank of America decreased their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

AutoNation Trading Up 1.1 %

Shares of AN opened at $165.03 on Friday. AutoNation has a 12-month low of $123.81 and a 12-month high of $182.08. The firm has a market capitalization of $6.65 billion, a P/E ratio of 7.83, a P/E/G ratio of 3.05 and a beta of 1.22. The firm has a 50-day moving average price of $156.70 and a 200 day moving average price of $145.73. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.04. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.05 EPS. Sell-side analysts forecast that AutoNation will post 18.73 EPS for the current year.

AutoNation announced that its Board of Directors has initiated a stock buyback program on Friday, April 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 14.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other AutoNation news, major shareholder Edward S. Lampert sold 10,804 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.56, for a total value of $1,669,866.24. Following the completion of the transaction, the insider now owns 4,267,860 shares in the company, valued at $659,640,441.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 10,804 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.56, for a total value of $1,669,866.24. Following the sale, the insider now owns 4,267,860 shares of the company’s stock, valued at approximately $659,640,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacqueline A. Travisano sold 3,671 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $146.98, for a total value of $539,563.58. Following the transaction, the director now directly owns 6,182 shares of the company’s stock, valued at $908,630.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,279 shares of company stock valued at $21,041,962. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoNation

Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in AutoNation in the third quarter valued at $969,000. UMB Bank n.a. increased its holdings in shares of AutoNation by 18.0% in the 3rd quarter. UMB Bank n.a. now owns 708 shares of the company’s stock valued at $107,000 after acquiring an additional 108 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of AutoNation by 9.9% during the 3rd quarter. Simplicity Solutions LLC now owns 2,798 shares of the company’s stock worth $424,000 after acquiring an additional 253 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in AutoNation by 2.5% during the third quarter. Commonwealth Equity Services LLC now owns 11,723 shares of the company’s stock worth $1,775,000 after purchasing an additional 288 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in AutoNation by 4.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 9,150 shares of the company’s stock worth $1,385,000 after purchasing an additional 407 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.