AutoNation (NYSE:AN – Free Report) had its target price increased by Argus from $241.00 to $246.00 in a research note released on Tuesday, MarketBeat reports. They currently have a buy rating on the stock.
A number of other research firms have also recently issued reports on AN. Barclays lifted their price target on shares of AutoNation from $255.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings restated a “buy (b-)” rating on shares of AutoNation in a research report on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Morgan Stanley lifted their target price on shares of AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, UBS Group reissued a “buy” rating and set a $248.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $250.00.
Check Out Our Latest Research Report on AN
AutoNation Stock Performance
AutoNation (NYSE:AN – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $5.56 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $0.08. The business had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. Analysts expect that AutoNation will post 21.64 EPS for the current fiscal year.
Insider Activity
In other news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the sale, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. The trade was a 10.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of AutoNation by 0.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company’s stock worth $1,960,000 after buying an additional 52 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of AutoNation by 0.9% in the fourth quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock valued at $1,170,000 after buying an additional 53 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of AutoNation by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock valued at $1,376,000 after buying an additional 55 shares during the last quarter. Redwood Investment Management LLC lifted its stake in shares of AutoNation by 1.1% in the first quarter. Redwood Investment Management LLC now owns 5,372 shares of the company’s stock worth $1,049,000 after buying an additional 61 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of AutoNation by 13.3% in the third quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company’s stock worth $114,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.
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.
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