AutoNation (NYSE:AN) Price Target Raised to $238.00

AutoNation (NYSE:AN) had its target price hoisted by equities researchers at Morgan Stanley from $233.00 to $238.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 23.96% from the stock’s previous close.

Several other brokerages have also recently issued reports on AN. JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective on the stock in a research note on Friday, January 16th. Barclays decreased their price target on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Evercore increased their price objective on AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, November 24th. Stephens lifted their target price on AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings lowered AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.67.

AutoNation Price Performance

NYSE:AN traded down $3.16 during midday trading on Monday, hitting $192.00. 84,788 shares of the stock were exchanged, compared to its average volume of 436,235. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 11.25 and a beta of 0.88. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 2.39. AutoNation has a one year low of $148.33 and a one year high of $228.92. The business has a 50-day moving average price of $208.83 and a two-hundred day moving average price of $210.82.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The company had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the firm earned $4.97 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts predict that AutoNation will post 18.15 EPS for the current year.

Institutional Trading of AutoNation

Several large investors have recently added to or reduced their stakes in AN. Cookson Peirce & Co. Inc. bought a new position in AutoNation in the 3rd quarter worth $1,140,000. Paradigm Asset Management Co. LLC acquired a new stake in shares of AutoNation in the second quarter valued at about $1,251,000. Aaron Wealth Advisors LLC bought a new position in shares of AutoNation in the third quarter worth about $1,401,000. Davis Capital Management bought a new position in shares of AutoNation in the third quarter worth about $2,024,000. Finally, Dynasty Wealth Management LLC lifted its position in shares of AutoNation by 65.2% during the 3rd quarter. Dynasty Wealth Management LLC now owns 6,991 shares of the company’s stock worth $1,529,000 after purchasing an additional 2,759 shares during the last quarter. 94.62% of the stock is owned by institutional investors.

About AutoNation

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.