AutoNation (NYSE:AN) Upgraded to “Overweight” by Morgan Stanley

Morgan Stanley upgraded shares of AutoNation (NYSE:AN) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $200.00 target price on the stock, up from their prior target price of $145.00.

A number of other research analysts have also issued reports on AN. Evercore ISI increased their target price on AutoNation from $200.00 to $220.00 and gave the company an outperform rating in a research report on Monday, June 10th. Stephens began coverage on shares of AutoNation in a research report on Thursday, September 12th. They issued an overweight rating and a $210.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of AutoNation from $160.00 to $190.00 and gave the stock a neutral rating in a research report on Tuesday, September 10th. Bank of America lifted their price objective on AutoNation from $210.00 to $220.00 and gave the stock a buy rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company increased their target price on AutoNation from $164.00 to $187.00 and gave the company an equal weight rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, AutoNation has a consensus rating of Moderate Buy and a consensus price target of $201.75.

AutoNation Stock Down 2.0 %

AN opened at $174.90 on Wednesday. The company has a fifty day moving average of $172.79 and a two-hundred day moving average of $166.44. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 3.51 and a beta of 1.20. AutoNation has a fifty-two week low of $123.81 and a fifty-two week high of $197.18. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.21 and a current ratio of 0.78.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.31 by ($0.32). The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. AutoNation had a net margin of 2.93% and a return on equity of 36.50%. AutoNation’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.29 EPS. On average, research analysts expect that AutoNation will post 17.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Edward S. Lampert sold 53,562 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total value of $10,361,568.90. Following the completion of the sale, the insider now owns 3,825,838 shares of the company’s stock, valued at $740,108,361.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Edward S. Lampert sold 53,562 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $193.45, for a total value of $10,361,568.90. Following the completion of the sale, the insider now owns 3,825,838 shares of the company’s stock, valued at $740,108,361.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edward S. Lampert sold 23,703 shares of AutoNation stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the transaction, the insider now directly owns 3,980,467 shares in the company, valued at $685,794,659.43. The disclosure for this sale can be found here. Insiders have sold 216,959 shares of company stock valued at $39,346,744 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System grew its holdings in shares of AutoNation by 54.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,743 shares of the company’s stock worth $8,568,000 after purchasing an additional 18,157 shares during the period. Mutual Advisors LLC acquired a new stake in shares of AutoNation during the first quarter valued at about $1,484,000. Sanders Morris Harris LLC purchased a new stake in shares of AutoNation in the 1st quarter valued at approximately $828,000. Bridgewater Associates LP raised its stake in shares of AutoNation by 20.5% in the 4th quarter. Bridgewater Associates LP now owns 107,558 shares of the company’s stock valued at $16,153,000 after acquiring an additional 18,278 shares during the period. Finally, Diversified Trust Co acquired a new position in shares of AutoNation in the 2nd quarter worth approximately $838,000. 94.62% of the stock is currently owned by hedge funds and other 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.