Research Analysts Set Expectations for AutoNation, Inc.’s Q1 2024 Earnings (NYSE:AN)

AutoNation, Inc. (NYSE:AN) – Stock analysts at Seaport Res Ptn lowered their Q1 2024 earnings per share estimates for shares of AutoNation in a report issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $4.27 per share for the quarter, down from their previous forecast of $4.35. The consensus estimate for AutoNation’s current full-year earnings is $18.92 per share. Seaport Res Ptn also issued estimates for AutoNation’s FY2024 earnings at $18.70 EPS.

Several other equities analysts have also weighed in on AN. Guggenheim lifted their price target on AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Company increased their target price on AutoNation from $144.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 14th. StockNews.com cut shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Bank of America reduced their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $117.00 to $140.00 in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

AutoNation Price Performance

Shares of NYSE AN opened at $154.60 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.77 and a quick ratio of 0.23. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 1.24 and a beta of 1.24. The firm’s 50 day simple moving average is $152.92 and its 200-day simple moving average is $144.27. AutoNation has a 12 month low of $123.81 and a 12 month high of $182.08.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.17. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.67 billion. AutoNation had a return on equity of 48.76% and a net margin of 3.79%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $6.37 EPS.

Institutional Trading of AutoNation

A number of large investors have recently made changes to their positions in AN. Norges Bank acquired a new stake in AutoNation in the fourth quarter valued at $42,748,000. Invesco Ltd. raised its position in shares of AutoNation by 31.8% during the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock worth $114,300,000 after acquiring an additional 181,942 shares in the last quarter. Eminence Capital LP lifted its stake in AutoNation by 84.4% during the fourth quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock worth $39,338,000 after purchasing an additional 119,866 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in AutoNation by 47.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after purchasing an additional 109,571 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in AutoNation by 137.5% in the third quarter. Qube Research & Technologies Ltd now owns 167,178 shares of the company’s stock valued at $25,311,000 after purchasing an additional 96,797 shares in the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AutoNation

In other news, major shareholder Edward S. Lampert sold 100,000 shares of AutoNation stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total value of $16,126,000.00. Following the completion of the sale, the insider now directly owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Edward S. Lampert sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total value of $16,126,000.00. Following the completion of the transaction, the insider now owns 4,167,270 shares of the company’s stock, valued at $672,013,960.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Kimberly Dees sold 3,133 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $152.28, for a total transaction of $477,093.24. Following the sale, the chief accounting officer now directly owns 464 shares in the company, valued at $70,657.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,279 shares of company stock worth $19,361,962. Insiders own 0.74% of the company’s stock.

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.