AutoNation (NYSE:AN) Rating Increased to Overweight at Morgan Stanley

by · The Markets Daily

AutoNation (NYSE:AN – Get Free Report) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $200.00 price target on the stock, up from their previous price target of $145.00. Morgan Stanley’s price objective suggests a potential upside of 12.29% from the company’s current price.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their target price on AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Stephens began coverage on shares of AutoNation in a research report on Thursday, September 12th. They set an “overweight” rating and a $210.00 price objective for the company. Evercore ISI lifted their target price on shares of AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Bank of America increased their price target on shares of AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.75.

Read Our Latest Stock Report on AutoNation

AutoNation Stock Performance

AN opened at $178.11 on Wednesday. AutoNation has a twelve month low of $123.81 and a twelve month high of $197.18. The firm has a market capitalization of $7.17 billion, a PE ratio of 8.45, a PEG ratio of 3.51 and a beta of 1.20. The company has a current ratio of 0.78, a quick ratio of 0.21 and a debt-to-equity ratio of 1.65. The firm’s 50-day moving average price is $172.82 and its 200 day moving average price is $166.52.

AutoNation (NYSE:AN – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.31 by ($0.32). AutoNation had a return on equity of 36.50% and a net margin of 2.93%. The company had revenue of $6.48 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the firm earned $6.29 earnings per share. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts expect that AutoNation will post 17.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the completion of the transaction, the insider now directly owns 3,786,144 shares in the company, valued at approximately $694,492,393.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Edward S. Lampert sold 39,194 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the sale, the insider now directly owns 3,786,144 shares of the company’s stock, valued at approximately $694,492,393.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Edward S. Lampert sold 53,562 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total transaction of $10,361,568.90. Following the completion of the transaction, the insider now directly owns 3,825,838 shares of the company’s stock, valued at approximately $740,108,361.10. The disclosure for this sale can be found here. Insiders have sold 216,959 shares of company stock worth $39,346,744 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in shares of AutoNation in the 4th quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in AutoNation by 90.6% in the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. Riverview Trust Co purchased a new position in AutoNation in the first quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC acquired a new position in AutoNation during the 2nd quarter worth approximately $37,000. Finally, Denali Advisors LLC increased its position in shares of AutoNation by 79.7% in the 1st quarter. Denali Advisors LLC now owns 248 shares of the company’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

AutoNation Company Profile

(Get Free Report)

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

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