AutoNation (NYSE:AN) Price Target Raised to $182.00

Key Points

• Morgan Stanley raised AutoNation’s price target to $182 from $175 but maintained an equal-weight rating; the target implies 1.73% downside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and average price target of $228.20, with seven Buy, five Hold, and one Sell rating.
• AutoNation slightly beat quarterly estimates, reporting EPS of $5.11 versus $5.08 expected and revenue of $7.01 billion versus $6.93 billion; revenue declined 0.4% year over year.

AutoNation (NYSE:AN - Get Free Report) had its price target boosted by research analysts at Morgan Stanley from $175.00 to $182.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 1.73% from the stock's previous close.

AN has been the topic of a number of other research reports. Weiss Ratings downgraded AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Seaport Research Partners reaffirmed a "buy" rating and set a $255.00 price target on shares of AutoNation in a research report on Monday, August 3rd. Wells Fargo & Company lifted their price target on AutoNation from $202.00 to $224.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Northcoast Research raised AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 price objective on the stock in a research report on Tuesday, July 14th. Finally, Barclays reduced their price objective on AutoNation from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, November 3rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $228.20.

AutoNation Stock Up 0.7%

NYSE:AN traded up $1.20 during trading hours on Monday, hitting $185.20. 121,125 shares of the company traded hands, compared to its average volume of 461,633. The company has a quick ratio of 0.17, a current ratio of 0.77 and a debt-to-equity ratio of 2.74. The company has a market cap of $5.92 billion, a PE ratio of 8.90, a PEG ratio of 0.95 and a beta of 0.82. The firm's 50-day simple moving average is $175.51 and its 200-day simple moving average is $192.98. AutoNation has a one year low of $151.82 and a one year high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $5.11 EPS for the quarter, beating the consensus estimate of $5.08 by $0.03. AutoNation had a net margin of 2.63% and a return on equity of 31.18%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company posted $5.01 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. Equities analysts predict that AutoNation will post 20.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFG Advisory LLC purchased a new stake in AutoNation during the third quarter valued at about $1,514,000. Russell Investments Group Ltd. boosted its holdings in shares of AutoNation by 3.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,819 shares of the company's stock worth $3,435,000 after purchasing an additional 779 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of AutoNation by 4.6% in the 3rd quarter. Ritholtz Wealth Management now owns 10,721 shares of the company's stock worth $1,688,000 after purchasing an additional 474 shares in the last quarter. Lido Advisors LLC increased its position in shares of AutoNation by 127.5% during the 3rd quarter. Lido Advisors LLC now owns 2,714 shares of the company's stock valued at $427,000 after purchasing an additional 1,521 shares during the last quarter. Finally, AlphaCore Capital LLC increased its position in shares of AutoNation by 20.1% during the 3rd quarter. AlphaCore Capital LLC now owns 4,041 shares of the company's stock valued at $636,000 after purchasing an additional 677 shares during the last quarter. Institutional investors own 94.62% of the company's stock.

AutoNation Company Profile

AutoNation, Inc is a U.S. automotive retailer that sells new and used vehicles through a network of dealerships. Its stores offer vehicles from a range of manufacturers, along with related products and services.

The company also provides vehicle maintenance and repair, parts, and collision-repair services. Its offerings include financing and insurance products, as well as online tools that support vehicle research and purchasing.

Founded in 1996, AutoNation operates dealerships across the United States, with a presence concentrated in the Sun Belt.

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