AutoNation (NYSE:AN) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• AutoNation has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• Despite the downgrade, other analysts like Morgan Stanley and Bank of America have adjusted their target prices upwards, with an average price target of $222.63 for AutoNation shares.
• The stock recently reported earnings of $5.46 per share, exceeding expectations and showing a 7.6% year-over-year revenue growth.

AutoNation (NYSE:AN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

AN has been the topic of several other reports. Morgan Stanley boosted their target price on AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Bank of America lowered their target price on AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Guggenheim lowered their target price on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Wells Fargo & Company upped their price objective on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average price target of $222.63.

AutoNation Trading Down 2.1%

Shares of AutoNation stock opened at $222.15 on Friday. The stock has a market cap of $8.38 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.04 and a beta of 0.89. The stock's 50 day simple moving average is $209.04 and its 200-day simple moving average is $189.04. AutoNation has a 1-year low of $148.33 and a 1-year high of $228.92. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21.

AutoNation (NYSE:AN - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.76. The business had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.77 billion. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.99 EPS. Analysts predict that AutoNation will post 18.15 EPS for the current fiscal year.

Hedge Funds Weigh In On AutoNation

Several large investors have recently bought and sold shares of AN. Curat Global LLC acquired a new stake in shares of AutoNation during the first quarter worth about $36,000. Geneos Wealth Management Inc. boosted its stake in shares of 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 buying an additional 64 shares during the period. GAMMA Investing LLC boosted its stake in shares of AutoNation by 81.1% during the first quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after buying an additional 206 shares during the period. Parallel Advisors LLC boosted its stake in shares of AutoNation by 45.3% during the second quarter. Parallel Advisors LLC now owns 375 shares of the company's stock worth $74,000 after buying an additional 117 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of AutoNation during the first quarter worth about $86,000. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

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