AutoNation (NYSE:AN) Price Target Raised to $246.00 at Argus

Key Points

• Argus raised AutoNation’s price target to $246 from $241 and maintained a “buy” rating, implying 18.26% upside from the prior close.
• Analyst sentiment remains favorable, with 10 buy ratings and two holds; the consensus rating is “Moderate Buy” with an average price target of $250.
• AutoNation reported quarterly EPS of $5.56, slightly above expectations, while revenue of $6.93 billion fell short of estimates and declined 0.6% year over year.

AutoNation (NYSE:AN - Get Free Report) had its price objective upped by analysts at Argus from $241.00 to $246.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Argus' price objective would suggest a potential upside of 18.26% from the company's previous close.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on AutoNation from $235.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, August 4th. UBS Group restated a "buy" rating and issued a $248.00 price objective on shares of AutoNation in a report on Monday, August 3rd. Morgan Stanley raised their target price on AutoNation from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup upped their target price on shares of AutoNation from $287.00 to $290.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, Northcoast Research raised shares of AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 price target for the company in a report on Tuesday, July 14th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $250.00.

AutoNation Stock Performance

AutoNation stock opened at $208.02 on Tuesday. The firm has a market capitalization of $6.88 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.88 and a beta of 0.71. The stock has a fifty day moving average price of $198.20 and a two-hundred day moving average price of $198.32. AutoNation has a 52-week low of $176.62 and a 52-week high of $235.81. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, beating analysts' consensus estimates of $5.48 by $0.08. The firm had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. As a group, analysts anticipate that AutoNation will post 21.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the sale, the director owned 7,989 shares in the company, valued at approximately $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On AutoNation

Institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in 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 purchasing an additional 64 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of AutoNation during the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC lifted its stake in AutoNation by 49.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock worth $54,000 after purchasing an additional 86 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of AutoNation by 33.0% in the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company's stock valued at $59,000 after purchasing an additional 76 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in AutoNation in the second quarter valued at about $63,000. Institutional investors own 94.62% of the company's stock.

About AutoNation

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.

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