AutoNation (NYSE:AN) Sets New 52-Week High - Here's Why

Key Points

• AutoNation shares reached a new 52-week high of $230.66 and last traded near $228, well above the prior close of $220.33.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $246.18.
• The company’s latest quarter fell slightly short of expectations: EPS was $4.69 versus $4.71 forecast, while revenue declined 2.1% year over year to $6.55 billion.

AutoNation, Inc. (NYSE:AN - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $230.66 and last traded at $228.1230, with a volume of 124439 shares traded. The stock had previously closed at $220.33.

Wall Street Analysts Forecast Growth

AN has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of AutoNation from $208.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday, July 6th. Citigroup raised their price objective on AutoNation from $269.00 to $287.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Northcoast Research upgraded AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 target price on the stock in a report on Tuesday, July 14th. Barclays boosted their target price on AutoNation from $255.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley restated an "overweight" rating and issued a $240.00 price target on shares of AutoNation in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $246.18.

AutoNation Price Performance

The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. The company has a fifty day moving average price of $193.66 and a two-hundred day moving average price of $198.28. The company has a market cap of $7.70 billion, a P/E ratio of 12.45, a PEG ratio of 0.90 and a beta of 0.75.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the previous year, the company posted $4.68 EPS. The business's revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that AutoNation, Inc. will post 21.41 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoNation

In related news, CAO Kimberly Dees sold 2,500 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares of the company's stock, valued at approximately $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of AutoNation

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of AutoNation by 8.9% in the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company's stock valued at $3,070,000 after purchasing an additional 1,551 shares during the period. United Services Automobile Association acquired a new stake in AutoNation in the 1st quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company's stock worth $15,967,000 after purchasing an additional 9,656 shares during the period. Focus Partners Wealth grew its holdings in AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company's stock worth $562,000 after purchasing an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. increased 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 buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Company Profile

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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