AutoNation (NYSE:AN) Price Target Cut to $250.00 by Analysts at Bank of America

Key Points

• AutoNation's price target has been reduced from $255.00 to $250.00 by Bank of America, which maintains a "buy" rating on the stock, suggesting a potential upside of 11.18% from its current price.
• The company's quarterly earnings report revealed $5.46 earnings per share, surpassing estimates and achieving a revenue of $6.97 billion, a 7.6% increase year-over-year.
• Institutional investors hold a significant stake in AutoNation, with 94.62% ownership, reflecting strong confidence in the company's performance and growth potential.

AutoNation (NYSE:AN - Get Free Report) had its price objective reduced by analysts at Bank of America from $255.00 to $250.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 11.18% from the stock's current price.

A number of other brokerages have also recently issued reports on AN. Stephens increased their target price on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Wells Fargo & Company upped their price target on shares of AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Guggenheim decreased their price target on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley raised their target price on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average target price of $222.63.

AutoNation Trading Down 0.1%

NYSE AN traded down $0.12 during mid-day trading on Wednesday, reaching $224.87. 44,199 shares of the stock were exchanged, compared to its average volume of 474,465. The stock has a market capitalization of $8.48 billion, a PE ratio of 14.09, a PEG ratio of 1.11 and a beta of 0.89. The business's fifty day simple moving average is $208.32 and its 200 day simple moving average is $188.21. 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 quick ratio of 0.21 and a current ratio of 0.81.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.76. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that AutoNation will post 18.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in shares of AutoNation by 17.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,891 shares of the company's stock worth $767,000 after acquiring an additional 570 shares during the period. Orion Porfolio Solutions LLC acquired a new position in shares of AutoNation during the 2nd quarter worth $210,000. FORA Capital LLC bought a new stake in AutoNation during the 2nd quarter worth $653,000. Tower Research Capital LLC TRC grew its position in AutoNation by 7.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,192 shares of the company's stock worth $237,000 after acquiring an additional 78 shares during the last quarter. Finally, Semmax Financial Advisors Inc. bought a new stake in AutoNation during the 2nd quarter worth $298,000. Institutional investors 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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