AutoNation (NYSE:AN) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of AutoNation (NYSE:AN) from an equal weight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat reports. They currently have $200.00 price objective on the stock, up from their previous price objective of $145.00.

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

AutoNation Stock Up 2.6 %

NYSE AN opened at $182.61 on Wednesday. The stock has a 50 day moving average price of $173.00 and a 200-day moving average price of $166.76. AutoNation has a one year low of $123.81 and a one year high of $197.18. The company has a market capitalization of $7.25 billion, a P/E ratio of 8.66, a P/E/G ratio of 3.54 and a beta of 1.20. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.21 and a current ratio of 0.78.

AutoNation (NYSE:AN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.31 by ($0.32). AutoNation had a net margin of 2.93% and a return on equity of 36.50%. The business had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter last year, the business earned $6.29 EPS. AutoNation’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, equities analysts predict that AutoNation will post 17.67 EPS for the current fiscal year.

Insider Activity at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $182.06, for a total value of $91,030.00. Following the transaction, the insider now directly owns 3,825,338 shares in the company, valued at approximately $696,441,036.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Edward S. Lampert sold 500 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total transaction of $91,030.00. Following the transaction, the insider now owns 3,825,338 shares of the company’s stock, valued at approximately $696,441,036.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the transaction, the insider now owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The disclosure for this sale can be found here. Insiders sold 216,959 shares of company stock worth $39,346,744 in the last 90 days. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoNation

Several hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in AutoNation in the fourth quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of AutoNation by 90.6% in the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 96 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of AutoNation during the 1st quarter worth $33,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of AutoNation during the 2nd quarter worth $37,000. Finally, Denali Advisors LLC boosted its position in AutoNation by 79.7% during the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock valued at $41,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Company Profile

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.