AutoNation (NYSE:AN) Sets New 1-Year High – What’s Next?

AutoNation, Inc. (NYSE:AN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $230.66 and last traded at $228.1230, with a volume of 124439 shares trading hands. The stock had previously closed at $220.33.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AN shares. Weiss Ratings raised shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. UBS Group began coverage on AutoNation in a research report on Wednesday, May 27th. They set a “buy” rating and a $234.00 price objective for the company. Morgan Stanley restated an “overweight” rating and set a $240.00 target price on shares of AutoNation in a report on Thursday, May 7th. Barclays upped their target price on shares of AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Northcoast Research raised shares of AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price target for the company in a research report on Tuesday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.18.

AutoNation Price Performance

The company has a debt-to-equity ratio of 2.62, a current ratio of 0.81 and a quick ratio of 0.20. The business’s 50 day moving average price is $195.17 and its 200 day moving average price is $198.38. The stock has a market capitalization of $7.25 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.97 and a beta of 0.75.

AutoNation (NYSE:AN) last issued its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The company had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. Sell-side analysts forecast that AutoNation, Inc. will post 21.41 EPS for the current year.

Insider Activity

In other news, CAO Kimberly Dees sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total value of $512,275.00. Following the transaction, the chief accounting officer directly owned 1,456 shares in the company, valued at $298,348.96. This trade represents a 63.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of AutoNation

A number of hedge funds have recently bought and sold shares of AN. Geneos Wealth Management Inc. boosted its position in AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after purchasing an additional 64 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of AutoNation in the 4th quarter worth approximately $41,000. Employees Retirement System of Texas bought a new position in shares of AutoNation in the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC boosted its holdings in shares of AutoNation by 49.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company’s stock worth $54,000 after buying an additional 86 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of AutoNation in the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.