StockNews.com Downgrades AutoNation (NYSE:AN) to Buy

StockNews.com lowered shares of AutoNation (NYSE:ANGet Rating) from a strong-buy rating to a buy rating in a report published on Thursday morning.

AN has been the subject of several other reports. Wells Fargo & Company raised their target price on AutoNation from $137.00 to $153.00 and gave the stock an overweight rating in a research report on Friday, April 22nd. Truist Financial raised AutoNation from a hold rating to a buy rating and raised their target price for the stock from $130.00 to $140.00 in a research report on Monday, April 25th. Morgan Stanley raised their target price on AutoNation from $103.00 to $108.00 and gave the stock an equal weight rating in a research report on Tuesday, March 8th. Finally, JPMorgan Chase & Co. raised AutoNation from a neutral rating to an overweight rating and cut their price objective for the company from $140.00 to $130.00 in a report on Thursday, April 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, AutoNation currently has an average rating of Buy and an average target price of $146.71.

AN opened at $108.39 on Thursday. AutoNation has a 1-year low of $88.32 and a 1-year high of $133.48. The company has a current ratio of 1.16, a quick ratio of 0.55 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 5.02, a P/E/G ratio of 0.20 and a beta of 1.14. The business has a 50 day moving average of $111.92 and a 200-day moving average of $113.58.

AutoNation (NYSE:ANGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The company reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.53. AutoNation had a return on equity of 59.93% and a net margin of 5.60%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the business earned $2.79 earnings per share. AutoNation’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts predict that AutoNation will post 22.16 EPS for the current year.

In related news, Director David B. Edelson sold 13,200 shares of AutoNation stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $108.00, for a total value of $1,425,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 98,290 shares of AutoNation stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $125.68, for a total value of $12,353,087.20. Following the completion of the sale, the insider now owns 9,072,314 shares of the company’s stock, valued at $1,140,208,423.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 447,999 shares of company stock valued at $49,815,311. 0.64% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in shares of AutoNation by 699.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 84,204 shares of the company’s stock worth $9,839,000 after buying an additional 73,677 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of AutoNation by 6.6% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 166,153 shares of the company’s stock worth $20,231,000 after buying an additional 10,304 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of AutoNation during the 3rd quarter worth about $3,450,000. EAM Global Investors LLC acquired a new position in shares of AutoNation during the 3rd quarter worth about $1,280,000. Finally, Janney Montgomery Scott LLC grew its position in shares of AutoNation by 41.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,735 shares of the company’s stock worth $2,189,000 after buying an additional 5,469 shares during the period. Hedge funds and other institutional investors own 84.44% of the company’s stock.

AutoNation Company Profile (Get Rating)

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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