AutoNation (NYSE:AN) Given New $255.00 Price Target at Citigroup

AutoNation (NYSE:AN) had its target price cut by investment analysts at Citigroup from $290.00 to $255.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 52.45% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Stephens upped their price target on AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Seaport Research Partners reiterated a “buy” rating and set a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on shares of AutoNation from $235.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Barclays raised their target price on shares of AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley upped their price target on shares of AutoNation from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.50.

AutoNation Trading Down 0.6%

Shares of AN stock opened at $167.27 on Monday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.81 and a beta of 0.72. AutoNation has a 1 year low of $167.05 and a 1 year high of $235.81. The firm has a fifty day moving average price of $204.71 and a 200-day moving average price of $197.39.

AutoNation (NYSE:AN) last announced its earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. The company had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.AutoNation’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $2.26 EPS. As a group, equities analysts predict that AutoNation will post 21.69 earnings per share for the current year.

Insider Buying and Selling at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total transaction of $198,000.00. Following the completion of the transaction, the director owned 7,989 shares of the company’s stock, valued at $1,757,580. This trade represents a 10.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On AutoNation

A number of institutional investors have recently modified their holdings of the stock. Redwood Investment Management LLC lifted its holdings in AutoNation by 1.1% during the first quarter. Redwood Investment Management LLC now owns 5,372 shares of the company’s stock valued at $1,049,000 after purchasing an additional 61 shares in the last quarter. Mitchell Sinkler & Starr PA raised its stake in AutoNation by 3.6% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 2,183 shares of the company’s stock valued at $451,000 after purchasing an additional 75 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of AutoNation by 33.0% during the first quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock worth $59,000 after buying an additional 76 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in AutoNation by 73.9% during the second quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $36,000 after acquiring an additional 82 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in AutoNation by 20.4% during the 4th quarter. IFP Advisors Inc now owns 566 shares of the company’s stock valued at $117,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Company Profile

AutoNation, Inc is a leading automotive retailer in the United States. The company sells new and used vehicles through a network of franchised dealerships and provides automotive services including vehicle financing, insurance products, maintenance, repair, parts, and collision-repair services.

In addition to its manufacturer-branded dealerships, AutoNation operates AutoNation USA locations focused primarily on used vehicles and offers digital tools that allow customers to research, purchase, finance, and service vehicles online.