AutoNation (NYSE:AN) Upgraded by JPMorgan Chase & Co. to Overweight Rating

JPMorgan Chase & Co. upgraded shares of AutoNation (NYSE:AN) from a neutral rating to an overweight rating in a research note released on Friday, Marketbeat reports. They currently have $235.00 price objective on the stock.

A number of other research firms have also recently commented on AN. Weiss Ratings reissued a “buy (b)” rating on shares of AutoNation in a research note on Monday, December 29th. Wells Fargo & Company increased their target price on AutoNation from $220.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup increased their target price on AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Evercore ISI lifted their price objective on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Finally, Barclays began coverage on shares of AutoNation in a report on Tuesday, November 11th. They issued an “overweight” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.22.

AutoNation Stock Up 0.4%

Shares of NYSE:AN opened at $215.24 on Friday. The business has a fifty day simple moving average of $208.61 and a 200 day simple moving average of $209.75. AutoNation has a 12-month low of $148.33 and a 12-month high of $228.92. The firm has a market cap of $7.85 billion, a P/E ratio of 12.66 and a beta of 0.88. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93.

AutoNation (NYSE:AN) last released its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.16. The company had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. AutoNation’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.02 EPS. Analysts predict that AutoNation will post 18.15 earnings per share for the current year.

AutoNation declared that its board has initiated a stock buyback program on Friday, October 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of AutoNation

Institutional investors have recently bought and sold shares of the stock. HM Payson & Co. purchased a new position in shares of AutoNation in the third quarter worth $31,000. Root Financial Partners LLC purchased a new position in AutoNation in the third quarter valued at $37,000. Smartleaf Asset Management LLC boosted its position in AutoNation by 355.3% during the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock worth $38,000 after purchasing an additional 135 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% during the 1st 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. Finally, Employees Retirement System of Texas purchased a new stake in shares of AutoNation during the third quarter worth approximately $48,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

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.