AutoNation, Inc. (NYSE:AN) Receives $246.90 Average Price Target from Brokerages

AutoNation, Inc. (NYSE:AN) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $246.30.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on AutoNation from $208.00 to $202.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Citigroup increased their target price on shares of AutoNation from $269.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Barclays lifted their target price on shares of AutoNation from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group started coverage on shares of AutoNation in a research report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 price target on the stock.

AutoNation Stock Performance

NYSE:AN traded up $3.36 during trading hours on Monday, reaching $195.67. The stock had a trading volume of 361,734 shares, compared to its average volume of 389,094. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. The stock has a 50 day simple moving average of $191.68 and a 200 day simple moving average of $198.80. AutoNation has a 12-month low of $176.62 and a 12-month high of $228.92. The stock has a market cap of $6.55 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the prior year, the company earned $4.68 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts forecast that AutoNation will post 21.24 EPS for the current fiscal year.

Insider Activity

In other news, CAO Kimberly Dees sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares of the company’s stock, valued at $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of AutoNation

A number of institutional investors have recently added to or reduced their stakes in the stock. Simcoe Capital Management LLC purchased a new position in AutoNation during the third quarter valued at approximately $18,988,000. Emmett Investment Management LP purchased a new stake in AutoNation in the 3rd quarter worth approximately $3,496,000. 44 Wealth Management LLC bought a new position in AutoNation in the 3rd quarter valued at $1,378,000. Holocene Advisors LP boosted its holdings in AutoNation by 38.3% in the 3rd quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock valued at $120,034,000 after purchasing an additional 151,966 shares during the period. Finally, Grove Bank & Trust purchased a new position in shares of AutoNation during the 4th quarter valued at $4,130,000. 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.