JPMorgan Chase & Co. Increases AutoNation (NYSE:AN) Price Target to $155.00

AutoNation (NYSE:AN - Get Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $142.00 to $155.00 in a report released on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 5.07% from the company's current price.

A number of other research firms also recently commented on AN. Guggenheim boosted their price target on AutoNation from $165.00 to $169.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. StockNews.com downgraded AutoNation from a "buy" rating to a "hold" rating in a research note on Wednesday, February 21st. Morgan Stanley raised AutoNation from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $117.00 to $140.00 in a research note on Thursday, February 29th. Evercore ISI initiated coverage on AutoNation in a research note on Wednesday, January 17th. They set an "outperform" rating and a $185.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on AutoNation from $153.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $176.63.

AutoNation Stock Performance

Shares of AutoNation stock traded up $0.42 during trading on Thursday, reaching $163.27. The company's stock had a trading volume of 316,111 shares, compared to its average volume of 463,206. The business's 50-day moving average price is $155.71 and its 200-day moving average price is $145.42. The firm has a market cap of $6.57 billion, a PE ratio of 7.72, a P/E/G ratio of 1.31 and a beta of 1.22. AutoNation has a 52 week low of $123.81 and a 52 week high of $182.08. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 1.47.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The company reported $4.49 EPS for the quarter, beating analysts' consensus estimates of $4.45 by $0.04. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. AutoNation's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.05 earnings per share. Equities analysts forecast that AutoNation will post 18.73 earnings per share for the current year.

AutoNation announced that its Board of Directors has approved a stock buyback plan on Friday, April 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 14.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at AutoNation

In related news, major shareholder Edward S. Lampert sold 10,804 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.56, for a total value of $1,669,866.24. Following the sale, the insider now directly owns 4,267,860 shares in the company, valued at $659,640,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AutoNation news, Director Jacqueline A. Travisano sold 3,671 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $146.98, for a total transaction of $539,563.58. Following the transaction, the director now directly owns 6,182 shares in the company, valued at approximately $908,630.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Edward S. Lampert sold 10,804 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.56, for a total value of $1,669,866.24. Following the transaction, the insider now owns 4,267,860 shares in the company, valued at $659,640,441.60. The disclosure for this sale can be found here. Insiders have sold 131,279 shares of company stock worth $21,041,962 over the last ninety days. Insiders own 0.74% of the company's stock.

Hedge Funds Weigh In On AutoNation

Institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of AutoNation by 4.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,695 shares of the company's stock worth $6,767,000 after purchasing an additional 1,983 shares during the period. Mirabella Financial Services LLP purchased a new stake in AutoNation in the 3rd quarter valued at $919,000. Teachers Retirement System of The State of Kentucky raised its position in AutoNation by 69.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,569 shares of the company's stock valued at $1,752,000 after buying an additional 4,748 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in AutoNation in the 3rd quarter valued at $1,525,000. Finally, Dorsey Wright & Associates purchased a new stake in AutoNation in the 3rd quarter valued at $1,329,000. 94.62% of the stock is owned by institutional investors and hedge funds.

About AutoNation

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.