AutoNation (NYSE:AN) Price Target Raised to $232.00 at Stephens

AutoNation (NYSE:AN) had its price objective upped by Stephens from $228.00 to $232.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target would indicate a potential upside of 10.41% from the company’s current price.

Several other research firms have also recently weighed in on AN. Citigroup raised their target price on shares of AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley lifted their price objective on shares of AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings restated a “buy (b)” rating on shares of AutoNation in a research note on Monday, December 29th. Evercore raised their target price on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, November 24th. Finally, Barclays reduced their price target on AutoNation from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $248.11.

AutoNation Stock Performance

AN opened at $210.12 on Wednesday. The business’s 50-day simple moving average is $211.87 and its 200 day simple moving average is $210.42. AutoNation has a 52-week low of $148.33 and a 52-week high of $228.92. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The firm has a market capitalization of $7.66 billion, a PE ratio of 12.33 and a beta of 0.88.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Friday, February 6th. The company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.17. AutoNation had a return on equity of 31.30% and a net margin of 2.35%.The firm had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the company earned $4.97 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that AutoNation will post 18.15 earnings per share for the current fiscal year.

AutoNation declared that its board has approved a stock repurchase plan on Friday, October 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of AutoNation

Several institutional investors have recently added to or reduced their stakes in AN. Royal Bank of Canada increased its position in AutoNation by 8.9% during the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock worth $3,070,000 after buying an additional 1,551 shares during the period. United Services Automobile Association bought a new stake in shares of AutoNation in the first quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AutoNation by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock valued at $15,967,000 after acquiring an additional 9,656 shares in the last quarter. Focus Partners Wealth increased its position in AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock worth $562,000 after acquiring an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after acquiring an additional 64 shares during the period. 94.62% of the stock is currently owned by institutional investors.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.