AutoNation (NYSE:AN) Lifted 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 released on Wednesday morning, Marketbeat reports. The firm currently has $200.00 target price on the stock, up from their prior target price of $145.00.

Other research analysts have also issued reports about the stock. Stephens assumed coverage on shares of AutoNation in a research report on Thursday, September 12th. They issued an overweight rating and a $210.00 target price for the company. Evercore ISI boosted their price objective on shares of AutoNation from $200.00 to $220.00 and gave the stock an outperform rating in a report on Monday, June 10th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. upped their price target on shares of AutoNation from $160.00 to $190.00 and gave the company a neutral rating in a report on Tuesday, September 10th. Finally, Bank of America raised their price objective on AutoNation from $210.00 to $220.00 and gave the company a buy rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, AutoNation currently has a consensus rating of Moderate Buy and a consensus price target of $201.75.

AutoNation Stock Performance

AutoNation stock opened at $182.61 on Wednesday. AutoNation has a 1-year low of $123.81 and a 1-year high of $197.18. 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 has a market capitalization of $7.25 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 3.54 and a beta of 1.20. The firm’s 50 day simple moving average is $173.00 and its 200 day simple moving average is $166.76.

AutoNation (NYSE:AN) last issued its quarterly earnings data 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 return on equity of 36.50% and a net margin of 2.93%. The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter last year, the business posted $6.29 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, analysts expect that AutoNation will post 17.67 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $685,794,659.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $176.21, for a total transaction of $17,621,000.00. Following the completion of the transaction, the insider now directly owns 3,880,467 shares in the company, valued at approximately $683,777,090.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $4,083,789.87. Following the sale, the insider now owns 3,980,467 shares in the company, valued at $685,794,659.43. The disclosure for this sale can be found here. Insiders sold 216,959 shares of company stock valued at $39,346,744 in the last quarter. 0.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AutoNation

A number of institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its position in shares of AutoNation by 54.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 51,743 shares of the company’s stock worth $8,568,000 after purchasing an additional 18,157 shares in the last quarter. Mutual Advisors LLC bought a new stake in shares of AutoNation during the first quarter valued at approximately $1,484,000. Sanders Morris Harris LLC purchased a new position in shares of AutoNation in the first quarter worth $828,000. Bridgewater Associates LP boosted its position in shares of AutoNation by 20.5% during the fourth quarter. Bridgewater Associates LP now owns 107,558 shares of the company’s stock worth $16,153,000 after acquiring an additional 18,278 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in AutoNation during the second quarter valued at $838,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

About AutoNation

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.