AutoNation (NYSE:AN) Upgraded by UBS Group to Strong-Buy Rating

UBS Group upgraded shares of AutoNation (NYSE:AN) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on AN. Weiss Ratings raised AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley reissued an “overweight” rating and set a $240.00 target price on shares of AutoNation in a research report on Thursday, May 7th. Bank of America started coverage on AutoNation in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. Finally, Barclays boosted their target price on AutoNation from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.90.

AutoNation Stock Performance

NYSE:AN opened at $194.93 on Wednesday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.81 and a quick ratio of 0.20. AutoNation has a 1 year low of $176.62 and a 1 year high of $228.92. The stock’s 50 day simple moving average is $196.00 and its two-hundred day simple moving average is $202.36. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.02 and a beta of 0.79.

AutoNation (NYSE:AN) last announced its earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.65 billion. AutoNation had a return on equity of 31.45% and a net margin of 2.47%.AutoNation’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.68 EPS. As a group, equities analysts anticipate that AutoNation will post 21.24 earnings per share for the current fiscal year.

Insider Transactions at AutoNation

In related news, CAO Kimberly Dees sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the completion of the transaction, the chief accounting officer owned 1,456 shares in the company, valued at $298,348.96. The trade was a 63.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoNation

A number of large investors have recently bought and sold shares of AN. Royal Bank of Canada boosted its holdings in AutoNation by 8.9% during the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after acquiring an additional 1,551 shares during the period. United Services Automobile Association purchased a new position in AutoNation during the 1st quarter valued at $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AutoNation by 10.9% during the 1st 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 during the period. Focus Partners Wealth boosted its holdings in AutoNation by 17.3% during the 1st quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after acquiring an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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.