Citigroup Has Lowered Expectations for AutoNation (NYSE:AN) Stock Price

AutoNation (NYSE:AN) had its price target lowered by analysts at Citigroup from $280.00 to $269.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 34.25% from the stock’s current price.

Several other equities analysts have also recently weighed in on AN. Bank of America started coverage on AutoNation in a report on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley raised their price objective on AutoNation from $233.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Stephens raised their price objective on AutoNation from $228.00 to $232.00 and gave the company an “equal weight” rating in a report on Wednesday, February 11th. Weiss Ratings cut AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. upgraded AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective for the company in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.89.

AutoNation Price Performance

AN stock opened at $200.37 on Wednesday. The stock has a market cap of $6.88 billion, a PE ratio of 11.74 and a beta of 0.81. The stock has a 50-day moving average price of $196.85 and a two-hundred day moving average price of $205.47. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 2.39. AutoNation has a 1 year low of $155.29 and a 1 year high of $228.92.

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

Hedge Funds Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently bought and sold shares of AN. Royal Bank of Canada grew its holdings in AutoNation by 8.9% during the first quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock worth $3,070,000 after purchasing an additional 1,551 shares during the period. United Services Automobile Association bought a new position in AutoNation during the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock worth $15,967,000 after purchasing an additional 9,656 shares during the period. Focus Partners Wealth grew its holdings in AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock worth $562,000 after purchasing an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in AutoNation by 37.4% during 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 period. Institutional investors 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.