AutoNation (NYSE:AN) Coverage Initiated at Barclays

Research analysts at Barclays initiated coverage on shares of AutoNation (NYSE:AN) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating on the stock.

A number of other brokerages have also commented on AN. Stephens boosted 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. Guggenheim lowered their price objective on shares of AutoNation from $230.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Morgan Stanley boosted their price target on shares of AutoNation from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. raised their target price on AutoNation from $230.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Citigroup raised their price objective on shares of AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.44.

AutoNation Stock Up 1.1%

Shares of NYSE:AN opened at $193.94 on Tuesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. AutoNation has a 1 year low of $148.33 and a 1 year high of $228.92. The stock has a 50-day simple moving average of $212.75 and a 200-day simple moving average of $202.38. The stock has a market capitalization of $7.07 billion, a P/E ratio of 11.41, a PEG ratio of 0.91 and a beta of 0.87.

AutoNation (NYSE:AN) last issued its earnings results on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.16. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter last year, the firm posted $4.02 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts forecast that AutoNation will post 18.15 earnings per share for the current year.

AutoNation declared that its board has authorized a stock repurchase plan on Friday, October 31st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On AutoNation

Several institutional investors and hedge funds have recently modified their holdings of AN. HM Payson & Co. acquired a new position in AutoNation in the 3rd quarter worth about $31,000. Root Financial Partners LLC acquired a new position in AutoNation in the 3rd quarter valued at $37,000. Smartleaf Asset Management LLC increased its stake in shares of AutoNation by 355.3% in the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock worth $38,000 after purchasing an additional 135 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of AutoNation by 2,477.8% during the third quarter. SJS Investment Consulting Inc. now owns 232 shares of the company’s stock worth $51,000 after buying an additional 223 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the last quarter. 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.