Seaport Res Ptn Equities Analysts Cut Earnings Estimates for AutoNation, Inc. (NYSE:AN)

AutoNation, Inc. (NYSE:AN) – Seaport Res Ptn decreased their Q1 2024 EPS estimates for AutoNation in a report issued on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $4.27 for the quarter, down from their prior 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.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 3.79% and a return on equity of 48.76%. AutoNation’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $6.37 earnings per share.

Several other equities research analysts have also issued reports on the stock. Evercore ISI assumed coverage on shares of AutoNation in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 price objective for the company. Bank of America dropped 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. Wells Fargo & Company raised their price target on shares of AutoNation from $144.00 to $150.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th. Guggenheim raised their price target on shares of AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, StockNews.com lowered shares of AutoNation from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

AutoNation Price Performance

AutoNation stock opened at $158.36 on Monday. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The firm has a fifty day moving average of $152.92 and a 200-day moving average of $144.27. The firm has a market capitalization of $6.60 billion, a P/E ratio of 6.99, a PEG ratio of 1.24 and a beta of 1.24. The company has a quick ratio of 0.23, a current ratio of 0.77 and a debt-to-equity ratio of 1.53.

Institutional Trading of AutoNation

A number of hedge funds and other institutional investors have recently made changes to their positions in AN. Louisiana State Employees Retirement System grew its stake in shares of AutoNation by 2.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the company’s stock worth $1,242,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of AutoNation by 45.1% in the 1st quarter. Fifth Third Bancorp now owns 238 shares of the company’s stock worth $39,000 after purchasing an additional 74 shares during the last quarter. Nilsine Partners LLC grew its stake in shares of AutoNation by 7.6% in the 1st quarter. Nilsine Partners LLC now owns 23,847 shares of the company’s stock worth $3,949,000 after purchasing an additional 1,688 shares during the last quarter. Raymond James & Associates grew its stake in shares of AutoNation by 15.4% in the 1st quarter. Raymond James & Associates now owns 52,473 shares of the company’s stock worth $8,688,000 after purchasing an additional 6,992 shares during the last quarter. Finally, American Institute for Advanced Investment Management LLP grew its stake in shares of AutoNation by 35.5% in the 1st quarter. American Institute for Advanced Investment Management LLP now owns 1,850 shares of the company’s stock worth $303,000 after purchasing an additional 485 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Kimberly Dees sold 3,133 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $152.28, for a total value of $477,093.24. Following the transaction, the chief accounting officer now directly owns 464 shares in the company, valued at approximately $70,657.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Jacqueline A. Travisano sold 3,671 shares of AutoNation stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $146.98, for a total value of $539,563.58. Following the sale, the director now directly owns 6,182 shares in the company, valued at approximately $908,630.36. The sale 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 business’s stock in a transaction dated 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 owns 464 shares in the company, valued at $70,657.92. The disclosure for this sale can be found here. Insiders sold a total of 121,279 shares of company stock valued at $19,361,962 in the last ninety days. Corporate insiders own 0.74% 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.