AutoNation Inc. (AN) Upgraded to “Neutral” by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. upgraded shares of AutoNation Inc. (NYSE:AN) from a sell rating to a neutral rating in a research report sent to investors on Thursday morning. Goldman Sachs Group Inc. currently has $49.00 target price on the stock. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on AN. Jefferies Group upped their price target on AutoNation from $50.00 to $57.00 and gave the stock a hold rating in a research note on Monday, August 1st. TheStreet raised AutoNation from a hold rating to a buy rating in a research note on Monday, July 18th. Seaport Global Securities assumed coverage on AutoNation in a research note on Tuesday, August 9th. They issued a neutral rating on the stock. CL King assumed coverage on AutoNation in a research note on Wednesday, September 7th. They issued a buy rating on the stock. Finally, Wolfe Research assumed coverage on AutoNation in a research note on Wednesday, August 31st. They issued a peer perform rating on the stock. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $59.43.
Shares of AutoNation (NYSE:AN) traded down 2.23% during midday trading on Thursday, hitting $49.04. The stock had a trading volume of 393,200 shares. AutoNation has a 12 month low of $40.45 and a 12 month high of $65.51. The stock’s 50-day moving average is $48.30 and its 200-day moving average is $48.56. The stock has a market cap of $5.01 billion, a PE ratio of 12.62 and a beta of 1.10.
AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.51 billion. AutoNation had a return on equity of 19.91% and a net margin of 1.99%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. Equities analysts anticipate that AutoNation will post $4.26 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. increased its position in shares of AutoNation by 188.0% in the second quarter. Burgundy Asset Management Ltd. now owns 3,195,184 shares of the company’s stock worth $150,110,000 after buying an additional 2,085,806 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of AutoNation during the first quarter worth about $40,182,000. Norges Bank acquired a new position in shares of AutoNation during the fourth quarter worth about $39,603,000. Marshall Wace LLP acquired a new position in shares of AutoNation during the second quarter worth about $10,674,000. Finally, Guggenheim Capital LLC increased its position in shares of AutoNation by 30.5% in the second quarter. Guggenheim Capital LLC now owns 811,914 shares of the company’s stock worth $38,144,000 after buying an additional 189,611 shares during the last quarter. 69.12% of the stock is currently owned by hedge funds and other institutional investors.
AutoNation, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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