AutoNation (NYSE:AN) Price Target Lowered to $240.00 at Barclays

AutoNation (NYSE:AN) had its price target cut by analysts at Barclays from $245.00 to $240.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 23.12% from the stock’s previous close.

Several other equities analysts also recently weighed in on AN. Weiss Ratings downgraded AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Wells Fargo & Company lifted their target price on AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a research report on Sunday, February 8th. Bank of America began coverage on AutoNation in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 target price on the stock in a research report on Friday, January 16th. Finally, Morgan Stanley lifted their target price on AutoNation from $233.00 to $238.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.11.

AutoNation Stock Performance

NYSE AN traded down $1.89 on Tuesday, hitting $194.93. 98,651 shares of the company traded hands, compared to its average volume of 440,446. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 11.43 and a beta of 0.81. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average price is $197.78 and its 200-day moving average price is $205.73. AutoNation has a 52-week low of $152.66 and a 52-week high of $228.92.

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

Hedge Funds Weigh In On AutoNation

Hedge funds have recently made changes to their positions in the business. Cookson Peirce & Co. Inc. bought a new position in shares of AutoNation in the third quarter worth about $1,140,000. Simcoe Capital Management LLC purchased a new stake in shares of AutoNation in the third quarter worth about $18,988,000. Aaron Wealth Advisors LLC purchased a new stake in shares of AutoNation in the third quarter worth about $1,401,000. Davis Capital Management purchased a new stake in shares of AutoNation in the third quarter worth about $2,024,000. Finally, 44 Wealth Management LLC purchased a new stake in shares of AutoNation in the third quarter worth about $1,378,000. 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.