AutoNation, Inc. (AN) Receives “Market Perform” Rating from Wells Fargo & Company

AutoNation, Inc. (NYSE:AN)‘s stock had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company in a note issued to investors on Monday, November 6th, The Fly reports. They currently have a $50.00 target price on the stock, up from their previous target price of $40.00. Wells Fargo & Company’s price objective indicates a potential downside of 3.33% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Buckingham Research dropped their price objective on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Deutsche Bank AG lowered their price target on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday, August 3rd. BidaskClub cut shares of AutoNation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. KeyCorp restated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Finally, ValuEngine cut shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. AutoNation presently has a consensus rating of “Hold” and an average price target of $46.88.

Shares of AutoNation (NYSE AN) opened at $51.72 on Monday. The company has a market cap of $4,719.14, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.15 and a beta of 1.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.17 and a current ratio of 0.73. AutoNation has a one year low of $38.20 and a one year high of $55.77.

AutoNation (NYSE:AN) last posted its earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. equities research analysts forecast that AutoNation will post 3.74 earnings per share for the current fiscal year.

AutoNation announced that its Board of Directors has approved a share repurchase program on Tuesday, August 29th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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In other AutoNation news, EVP Donna L. Parlapiano sold 3,367 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $51.81, for a total transaction of $174,444.27. Following the completion of the transaction, the executive vice president now owns 11,469 shares of the company’s stock, valued at $594,208.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Edward S. Lampert sold 3,480 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $55.61, for a total value of $193,522.80. The disclosure for this sale can be found here. Insiders sold 12,733 shares of company stock valued at $676,747 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of AN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in AutoNation by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after buying an additional 24 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in AutoNation in the 3rd quarter worth about $212,000. DekaBank Deutsche Girozentrale increased its holdings in AutoNation by 8.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after buying an additional 372 shares in the last quarter. Nomura Holdings Inc. bought a new stake in AutoNation in the 2nd quarter worth about $219,000. Finally, Greatmark Investment Partners Inc. bought a new stake in AutoNation in the 2nd quarter worth about $231,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

AutoNation Company Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

The Fly

Analyst Recommendations for AutoNation (NYSE:AN)

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