AutoNation (NYSE:AN) Price Target Raised to $230.00

Key Points

• JPMorgan Chase & Co. has raised AutoNation's price target from $205.00 to $230.00, maintaining a "neutral" rating, which implies a potential upside of 6.51% from its current price.
• Weiss Ratings downgraded AutoNation from a "buy (b-)" to a "hold (c+)" rating, while several other firms have also provided varying ratings and target adjustments for the stock.
• AutoNation reported an impressive quarterly earnings per share (EPS) of $5.46, exceeding analysts' expectations, with revenues increasing by 7.6% year-over-year to $6.97 billion.

AutoNation (NYSE:AN - Get Free Report) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $205.00 to $230.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 6.51% from the company's current price.

Several other research firms have also recently commented on AN. Weiss Ratings cut AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Guggenheim dropped 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. Citigroup reiterated a "buy" rating on shares of AutoNation in a report on Thursday, September 25th. Stephens raised their target price on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company upped their price objective on shares of AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, AutoNation has an average rating of "Moderate Buy" and an average target price of $225.75.

AutoNation Stock Performance

AN opened at $215.94 on Tuesday. The firm has a market capitalization of $8.14 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.85. The stock's 50 day moving average price is $216.16 and its two-hundred day moving average price is $196.62. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84. AutoNation has a 12-month low of $148.33 and a 12-month high of $228.92.

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

Hedge Funds Weigh In On AutoNation

Several institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% in 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 in the last quarter. GAMMA Investing LLC grew 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 valued at $74,000 after buying an additional 206 shares during the last quarter. Parallel Advisors LLC grew 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 valued at $74,000 after buying an additional 117 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of AutoNation in the first quarter worth about $86,000. Finally, IFP Advisors Inc grew its stake in shares of AutoNation by 38.0% in the second quarter. IFP Advisors Inc now owns 508 shares of the company's stock worth $101,000 after purchasing an additional 140 shares during the last quarter. 94.62% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.