Morgan Stanley Boosts AutoNation (NYSE:AN) Price Target to $238.00

AutoNation (NYSE:AN) had its price objective upped by investment analysts at Morgan Stanley from $233.00 to $238.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 22.12% from the stock’s previous close.

Several other research firms have also recently issued reports on AN. Stephens increased their target price on AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Barclays dropped their price target on AutoNation from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upgraded shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective on the stock in a research report on Friday, January 16th. Weiss Ratings downgraded shares of AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, Wells Fargo & Company raised their target price on shares of AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and a consensus price target of $248.67.

AutoNation Stock Performance

AN opened at $194.89 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.84 and a quick ratio of 0.22. AutoNation has a 1-year low of $148.33 and a 1-year high of $228.92. The company has a 50 day simple moving average of $208.20 and a two-hundred day simple moving average of $210.64. The firm has a market cap of $6.76 billion, a P/E ratio of 11.42 and a beta of 0.89.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.17. The business had revenue of $6.93 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $4.97 EPS. Equities analysts forecast that AutoNation will post 18.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. HM Payson & Co. purchased a new position in AutoNation during the 3rd quarter valued at about $31,000. Root Financial Partners LLC purchased a new position in shares of AutoNation in the third quarter valued at approximately $37,000. Smartleaf Asset Management LLC grew its holdings in shares of AutoNation by 355.3% in the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock valued at $38,000 after purchasing an additional 135 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in AutoNation during the 4th quarter worth approximately $41,000. Finally, Employees Retirement System of Texas acquired a new stake in AutoNation during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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.