AutoNation (NYSE:AN) Given New $215.00 Price Target at Bank of America

AutoNation (NYSE:AN) had its price objective cut by stock analysts at Bank of America from $220.00 to $215.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 40.18% from the stock’s previous close.

AN has been the topic of a number of other research reports. StockNews.com cut shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Evercore ISI assumed coverage on shares of AutoNation in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 target price on the stock. Morgan Stanley upgraded shares of AutoNation from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lifted their target price on shares of AutoNation from $144.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus target price of $174.25.

AutoNation Stock Performance

NYSE AN opened at $153.37 on Wednesday. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.23 and a current ratio of 0.77. The company has a market capitalization of $6.39 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.27 and a beta of 1.24. The company has a fifty day moving average of $152.03 and a 200-day moving average of $143.99.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.17. AutoNation had a net margin of 3.79% and a return on equity of 48.76%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the firm posted $6.37 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that AutoNation will post 19.05 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Edward S. Lampert sold 380,497 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $143.12, for a total value of $54,456,730.64. Following the transaction, the insider now owns 4,278,664 shares in the company, valued at $612,362,391.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total value of $16,126,000.00. Following the transaction, the insider now owns 4,167,270 shares in the company, valued at $672,013,960.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Edward S. Lampert sold 380,497 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $143.12, for a total transaction of $54,456,730.64. Following the completion of the transaction, the insider now owns 4,278,664 shares in the company, valued at approximately $612,362,391.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 501,776 shares of company stock valued at $73,818,692. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in AutoNation by 3,729.5% during the first quarter. Envestnet Asset Management Inc. now owns 505,268 shares of the company’s stock valued at $1,386,000 after buying an additional 492,074 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of AutoNation by 29.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,505,122 shares of the company’s stock worth $149,880,000 after purchasing an additional 338,288 shares in the last quarter. Norges Bank purchased a new stake in shares of AutoNation in the fourth quarter worth $42,748,000. Invesco Ltd. increased its stake in shares of AutoNation by 31.8% in the third quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock worth $114,300,000 after purchasing an additional 181,942 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of AutoNation by 211.1% in the fourth quarter. Squarepoint Ops LLC now owns 202,527 shares of the company’s stock worth $21,731,000 after purchasing an additional 137,431 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

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.