JPMorgan Chase & Co. began coverage on shares of AutoNation (NYSE:AN) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued an underweight rating and a $40.00 price target on the stock.
Other analysts have also issued reports about the company. Bank of America upgraded AutoNation from a neutral rating to a buy rating and set a $59.00 price objective on the stock in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on AutoNation from $44.00 to $34.00 and set a sell rating for the company in a report on Wednesday, November 14th. ValuEngine cut AutoNation from a sell rating to a strong sell rating in a report on Thursday, November 1st. Buckingham Research dropped their target price on AutoNation from $42.00 to $38.00 and set a neutral rating for the company in a report on Wednesday, October 31st. Finally, Seaport Global Securities started coverage on AutoNation in a report on Wednesday, February 13th. They issued a neutral rating and a $38.06 price objective for the company. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. AutoNation has a consensus rating of Hold and an average target price of $42.01.
AN stock opened at $38.38 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.20 and a current ratio of 0.86. AutoNation has a 1-year low of $32.87 and a 1-year high of $52.68. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.
In related news, Director David B. Edelson sold 20,000 shares of AutoNation stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $33.99, for a total transaction of $679,800.00. Following the transaction, the director now directly owns 48,946 shares in the company, valued at $1,663,674.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert R. Grusky sold 2,500 shares of AutoNation stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $35.36, for a total value of $88,400.00. Following the transaction, the director now owns 39,611 shares in the company, valued at $1,400,644.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,039 shares of company stock worth $786,143. Company insiders own 2.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in AutoNation by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 58,734 shares of the company’s stock valued at $2,097,000 after acquiring an additional 4,500 shares during the period. Legal & General Group Plc increased its holdings in shares of AutoNation by 1.5% in the fourth quarter. Legal & General Group Plc now owns 311,058 shares of the company’s stock worth $11,104,000 after purchasing an additional 4,715 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of AutoNation by 2.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,609 shares of the company’s stock worth $522,000 after purchasing an additional 397 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of AutoNation in the fourth quarter worth about $494,000. Finally, Squarepoint Ops LLC bought a new stake in shares of AutoNation in the fourth quarter worth about $10,995,000. Institutional investors own 63.98% of the company’s stock.
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.
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