AutoNation (NYSE:AN) Given New $240.00 Price Target at Barclays

AutoNation (NYSE:AN) had its target price reduced by Barclays from $245.00 to $240.00 in a research note published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also commented on the stock. Wells Fargo & Company lifted their target price on shares of AutoNation from $222.00 to $230.00 and gave the stock an “equal weight” rating in a report on Sunday, February 8th. Bank of America started coverage on shares of AutoNation in a report on Wednesday, March 4th. They set a “buy” rating for the company. Stephens lifted their target price on shares of AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Morgan Stanley lifted their target price on shares of AutoNation from $233.00 to $238.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings lowered shares of AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and an average target price of $248.11.

AutoNation Price Performance

Shares of AN stock opened at $193.55 on Tuesday. The stock has a 50-day moving average price of $197.37 and a 200 day moving average price of $205.56. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 2.39. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 11.35 and a beta of 0.81. AutoNation has a 12 month low of $152.66 and a 12 month high of $228.92.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Friday, February 6th. The company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The firm had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the company earned $4.97 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Research analysts expect that AutoNation will post 18.15 EPS for the current year.

Hedge Funds Weigh In On AutoNation

Several institutional investors and hedge funds have recently made changes to their positions in AN. Northwestern Mutual Wealth Management Co. grew its holdings in shares of AutoNation by 192,434.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,424,431 shares of the company’s stock valued at $913,557,000 after buying an additional 4,422,133 shares during the period. Norges Bank acquired a new position in shares of AutoNation in the 4th quarter valued at $69,319,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of AutoNation by 260.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 333,975 shares of the company’s stock valued at $73,064,000 after buying an additional 241,265 shares during the period. Squarepoint Ops LLC grew its holdings in shares of AutoNation by 219.6% in the 2nd quarter. Squarepoint Ops LLC now owns 316,923 shares of the company’s stock valued at $62,957,000 after buying an additional 217,774 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of AutoNation by 51.8% in the 2nd quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock valued at $125,439,000 after buying an additional 215,577 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

About AutoNation

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.