AutoNation (NYSE:AN) Downgraded to Underweight at Morgan Stanley

Morgan Stanley downgraded shares of AutoNation (NYSE:ANGet Rating) from an equal weight rating to an underweight rating in a research report sent to investors on Tuesday morning, The Fly reports. Morgan Stanley currently has $96.00 target price on the stock, down from their previous target price of $104.00.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lowered AutoNation from an overweight rating to an equal weight rating and set a $126.00 price target on the stock. in a research report on Friday, January 13th. StockNews.com initiated coverage on AutoNation in a report on Wednesday, October 12th. They set a buy rating on the stock. JPMorgan Chase & Co. lowered AutoNation from an overweight rating to a neutral rating and set a $125.00 target price on the stock. in a report on Thursday, October 6th. Finally, Guggenheim boosted their target price on AutoNation to $154.00 in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $144.88.

AutoNation Trading Down 0.6 %

NYSE:AN opened at $109.88 on Tuesday. AutoNation has a fifty-two week low of $94.92 and a fifty-two week high of $135.57. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.05 and a quick ratio of 0.42. The stock has a market capitalization of $5.45 billion, a PE ratio of 4.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The business’s 50-day simple moving average is $114.30 and its 200-day simple moving average is $113.78.

AutoNation (NYSE:ANGet Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $6.00 earnings per share for the quarter, missing the consensus estimate of $6.32 by ($0.32). AutoNation had a net margin of 5.50% and a return on equity of 62.53%. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.65 billion. Sell-side analysts expect that AutoNation will post 24.04 earnings per share for the current fiscal year.

Insider Activity

In other AutoNation news, EVP Marc G. Cannon sold 1,850 shares of the firm’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $122.50, for a total value of $226,625.00. Following the completion of the sale, the executive vice president now directly owns 13,401 shares of the company’s stock, valued at $1,641,622.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Edward S. Lampert sold 125,000 shares of AutoNation stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $104.82, for a total transaction of $13,102,500.00. Following the completion of the sale, the insider now owns 5,878,888 shares of the company’s stock, valued at $616,225,040.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marc G. Cannon sold 1,850 shares of AutoNation stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $122.50, for a total value of $226,625.00. Following the sale, the executive vice president now directly owns 13,401 shares of the company’s stock, valued at approximately $1,641,622.50. The disclosure for this sale can be found here. Insiders have sold 344,019 shares of company stock worth $37,978,902 over the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AutoNation

Several hedge funds have recently added to or reduced their stakes in AN. Raymond James Financial Services Advisors Inc. increased its holdings in shares of AutoNation by 13.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,667 shares of the company’s stock worth $1,361,000 after buying an additional 1,656 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of AutoNation in the first quarter worth about $215,000. Natixis Advisors L.P. increased its holdings in shares of AutoNation by 2.8% in the first quarter. Natixis Advisors L.P. now owns 11,818 shares of the company’s stock worth $1,177,000 after buying an additional 320 shares during the period. Acadian Asset Management LLC increased its holdings in shares of AutoNation by 47.0% in the first quarter. Acadian Asset Management LLC now owns 5,081 shares of the company’s stock worth $505,000 after buying an additional 1,625 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of AutoNation by 33.6% in the first quarter. MetLife Investment Management LLC now owns 25,882 shares of the company’s stock worth $2,577,000 after buying an additional 6,508 shares during the period. Institutional investors own 86.31% of the company’s stock.

About AutoNation

(Get Rating)

AutoNation, Inc engages in the provision of automotive products and services. It operates through the following segments: Domestic, Import, Premium Luxury, and Corporate & Other. The Domestic segment comprises retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and Stellantis.

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