Bank of America Trims AutoNation (NYSE:AN) Target Price to $215.00

AutoNation (NYSE:AN) had its target price decreased by Bank of America from $220.00 to $215.00 in a research note issued to investors on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company lifted their price objective on AutoNation from $164.00 to $187.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. Stephens initiated coverage on AutoNation in a report on Thursday, September 12th. They set an “overweight” rating and a $210.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on AutoNation from $160.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.38.

AutoNation Stock Performance

AN opened at $169.97 on Monday. The firm has a market capitalization of $6.84 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 3.25 and a beta of 1.19. The stock’s 50 day moving average price is $171.42 and its two-hundred day moving average price is $167.55. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65. AutoNation has a 12-month low of $123.81 and a 12-month high of $197.18.

AutoNation (NYSE:AN) last released its earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.72 billion. During the same period last year, the business earned $6.29 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts forecast that AutoNation will post 17.64 earnings per share for the current year.

Insider Activity at AutoNation

In related news, major shareholder Edward S. Lampert sold 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total value of $91,030.00. Following the sale, the insider now owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 500 shares of AutoNation stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total value of $91,030.00. Following the completion of the transaction, the insider now owns 3,825,338 shares in the company, valued at approximately $696,441,036.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Edward S. Lampert sold 39,194 shares of AutoNation stock in a transaction on Monday, August 26th. The shares were sold at an average price of $183.43, for a total value of $7,189,355.42. Following the completion of the transaction, the insider now owns 3,786,144 shares of the company’s stock, valued at approximately $694,492,393.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,256 shares of company stock valued at $17,641,954 in the last 90 days. 0.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoNation

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of AutoNation by 90.6% during the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 96 shares during the last quarter. Riverview Trust Co bought a new stake in shares of AutoNation during the first quarter worth $33,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of AutoNation during the second quarter worth $37,000. Denali Advisors LLC raised its position in shares of AutoNation by 79.7% during the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock worth $41,000 after acquiring an additional 110 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of AutoNation during the first quarter worth $57,000. 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.