BidaskClub cut shares of AutoNation, Inc. (NYSE:AN) from a sell rating to a strong sell rating in a research note released on Saturday.

AN has been the subject of several other reports. Morgan Stanley lowered their price objective on AutoNation from $57.00 to $53.00 and set an overweight rating for the company in a research report on Friday, June 9th. Deutsche Bank AG reiterated a hold rating and issued a $50.00 price objective (down from $52.00) on shares of AutoNation in a research report on Saturday, April 29th. Wells Fargo & Company reiterated a market perform rating and issued a $45.00 price objective (down from $48.50) on shares of AutoNation in a research report on Monday, July 17th. ValuEngine lowered AutoNation from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Northcoast Research upgraded AutoNation from a neutral rating to a buy rating and set a $51.00 price objective for the company in a research report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. AutoNation has an average rating of Hold and an average target price of $46.20.

Shares of AutoNation (NYSE AN) opened at 40.00 on Friday. AutoNation has a 52 week low of $38.20 and a 52 week high of $53.74. The company’s 50 day moving average price is $41.38 and its 200-day moving average price is $43.37. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 9.96 and a beta of 1.24.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.98 by $0.12. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that AutoNation will post $3.59 earnings per share for the current fiscal year.

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In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $38.99, for a total transaction of $109,172.00. Following the transaction, the director now directly owns 30,713 shares in the company, valued at $1,197,499.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invictus RG boosted its position in AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after buying an additional 1,833 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in AutoNation by 78.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,345 shares of the company’s stock worth $1,244,000 after buying an additional 13,371 shares during the period. Clinton Group Inc. purchased a new position in AutoNation during the first quarter worth approximately $2,065,000. Dynamic Capital Management Ltd purchased a new position in AutoNation during the first quarter worth approximately $581,000. Finally, Telemus Capital LLC boosted its position in AutoNation by 4.7% in the first quarter. Telemus Capital LLC now owns 63,280 shares of the company’s stock worth $2,676,000 after buying an additional 2,860 shares during the period. Institutional investors own 65.97% of the company’s stock.

About AutoNation

AutoNation, Inc (AutoNation) 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.

Analyst Recommendations for AutoNation (NYSE:AN)

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