Bank of America Cuts AutoNation (NYSE:AN) Price Target to $250.00

AutoNation (NYSE:AN) had its price target lowered by Bank of America from $255.00 to $250.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also issued reports on AN. Wells Fargo & Company upped their price target on AutoNation from $209.00 to $221.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Morgan Stanley upped their price target on AutoNation from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Guggenheim cut their price target on AutoNation from $230.00 to $228.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Stephens upped their price target on AutoNation from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on AutoNation from $185.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.63.

AutoNation Price Performance

Shares of AN stock opened at $222.15 on Wednesday. The stock’s fifty day moving average is $209.04 and its 200-day moving average is $189.04. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81. The stock has a market capitalization of $8.38 billion, a PE ratio of 13.92, a PEG ratio of 1.04 and a beta of 0.89. AutoNation has a 52 week low of $148.33 and a 52 week high of $228.92.

AutoNation (NYSE:AN) last announced its earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping the consensus estimate of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The company had revenue of $6.97 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the prior year, the business earned $3.99 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts expect that AutoNation will post 18.15 EPS for the current fiscal year.

Hedge Funds Weigh In On AutoNation

Several hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in AutoNation by 17.2% in the second quarter. Osaic Holdings Inc. now owns 3,891 shares of the company’s stock valued at $767,000 after buying an additional 570 shares during the period. Orion Porfolio Solutions LLC acquired a new position in AutoNation in the second quarter valued at about $210,000. FORA Capital LLC acquired a new position in AutoNation in the second quarter valued at about $653,000. Tower Research Capital LLC TRC raised its position in shares of AutoNation by 7.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,192 shares of the company’s stock worth $237,000 after purchasing an additional 78 shares during the period. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of AutoNation during the second quarter worth about $298,000. Institutional investors and hedge funds 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.