Citigroup Cuts AutoNation (NYSE:AN) Price Target to $269.00

AutoNation (NYSE:AN) had its price target dropped by equities research analysts at Citigroup from $280.00 to $269.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 36.57% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on AutoNation from $222.00 to $230.00 and gave the stock an “equal weight” rating in a report on Sunday, February 8th. Bank of America began coverage on AutoNation in a report on Wednesday, March 4th. They set a “buy” rating on the stock. Barclays lowered their target price on AutoNation from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley lifted their target price on AutoNation from $233.00 to $238.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 target price on the stock in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.89.

AutoNation Trading Up 1.8%

NYSE AN traded up $3.46 on Wednesday, hitting $196.97. 312,410 shares of the company were exchanged, compared to its average volume of 441,355. The company’s 50 day moving average price is $197.37 and its 200-day moving average price is $205.56. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.84 and a quick ratio of 0.22. The firm has a market capitalization of $6.76 billion, a P/E ratio of 11.57 and a beta of 0.81. AutoNation has a twelve month low of $154.73 and a twelve month high of $228.92.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.17. The firm had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7.21 billion. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.97 EPS. Analysts predict that AutoNation will post 18.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AutoNation

Several institutional investors and hedge funds have recently bought and sold shares of the business. HM Payson & Co. bought a new stake in shares of AutoNation in the 3rd quarter valued at approximately $31,000. Root Financial Partners LLC bought a new stake in shares of AutoNation in the 3rd quarter valued at approximately $37,000. Smartleaf Asset Management LLC grew its stake in shares of AutoNation by 355.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock valued at $38,000 after buying an additional 135 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of AutoNation in the 4th quarter valued at approximately $41,000. Finally, Employees Retirement System of Texas bought a new stake in shares of AutoNation in the 3rd quarter valued at approximately $48,000. 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.