AutoNation (NYSE:AN) Stock Price Up 7.8% Following Better-Than-Expected Earnings

AutoNation, Inc. (NYSE:AN)’s stock price shot up 7.8% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $173.85 and last traded at $172.87. 149,137 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 443,239 shares. The stock had previously closed at $160.38.

The company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.04. AutoNation had a return on equity of 48.76% and a net margin of 3.79%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the business posted $6.05 EPS. AutoNation’s revenue for the quarter was up 1.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

AN has been the subject of several research reports. Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $117.00 to $140.00 in a research report on Thursday, February 29th. 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. StockNews.com cut AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Bank of America dropped their target price on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on AutoNation from $144.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Insider Transactions at AutoNation

In related news, CAO Kimberly Dees sold 3,133 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $152.28, for a total value of $477,093.24. Following the completion of the transaction, the chief accounting officer now directly owns 464 shares of the company’s stock, valued at $70,657.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the sale, the chief accounting officer now directly owns 464 shares in the company, valued at approximately $70,657.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Lutoff-Perlo sold 3,671 shares of AutoNation stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $149.67, for a total value of $549,438.57. Following the transaction, the director now owns 6,182 shares of the company’s stock, valued at approximately $925,259.94. The disclosure for this sale can be found here. Insiders have sold a total of 121,279 shares of company stock worth $19,361,962 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On AutoNation

Large investors have recently added to or reduced their stakes in the business. First United Bank & Trust bought a new position in AutoNation in the 4th quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in AutoNation during the 4th quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new stake in AutoNation during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in AutoNation in the 4th quarter valued at $30,000. Finally, Avalon Trust Co acquired a new position in AutoNation in the 4th quarter valued at $32,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Stock Up 5.9 %

The firm has a 50-day simple moving average of $154.30 and a two-hundred day simple moving average of $144.86. The stock has a market cap of $7.08 billion, a P/E ratio of 7.49, a PEG ratio of 1.29 and a beta of 1.24. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 1.53.

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.