AutoNation (NYSE:AN) Reaches New 12-Month High – Still a Buy?

AutoNation, Inc. (NYSE:AN)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $224.00 and last traded at $222.29, with a volume of 373263 shares. The stock had previously closed at $220.92.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AN. Stephens lifted their price objective on shares of AutoNation from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Bank of America upped their price objective on shares of AutoNation from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Guggenheim dropped their target price on shares of AutoNation from $230.00 to $228.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. JPMorgan Chase & Co. boosted their target price on AutoNation from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised AutoNation from a “hold” rating to a “buy” rating in a research report on Saturday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.25.

AutoNation Trading Up 0.6%

The firm has a fifty day simple moving average of $204.01 and a two-hundred day simple moving average of $186.26. The firm has a market capitalization of $8.38 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.08 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21.

AutoNation (NYSE:AN) last issued its earnings results on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.76. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.77 billion. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.99 earnings per share. On average, equities research analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal year.

Institutional Trading of AutoNation

A number of institutional investors have recently modified their holdings of AN. Curat Global LLC purchased a new position in AutoNation in the 1st quarter valued at approximately $36,000. Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 64 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of AutoNation by 25.5% in the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company’s stock worth $54,000 after acquiring an additional 64 shares during the period. GAMMA Investing LLC grew its position in shares of AutoNation by 81.1% in the first quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $74,000 after purchasing an additional 206 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of AutoNation by 45.3% during the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after purchasing an additional 117 shares during the period. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

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.