AutoNation (NYSE:AN) Given New $155.00 Price Target at JPMorgan Chase & Co.

AutoNation (NYSE:AN) had its target price boosted by JPMorgan Chase & Co. from $142.00 to $155.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently commented on AN. Guggenheim raised their target price on AutoNation from $165.00 to $169.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price objective on AutoNation from $153.00 to $169.00 and gave the company an equal weight rating in a research report on Monday, April 29th. Morgan Stanley raised shares of AutoNation from an underweight rating to an equal weight rating and lifted their price target for the company from $117.00 to $140.00 in a research note on Thursday, February 29th. Evercore ISI began coverage on shares of AutoNation in a research report on Wednesday, January 17th. They set an outperform rating and a $185.00 price objective for the company. Finally, Bank of America dropped their target price on shares of AutoNation from $220.00 to $215.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $176.63.

AutoNation Trading Up 1.2 %

Shares of NYSE:AN opened at $165.18 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 1.47. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 3.09 and a beta of 1.22. The business has a 50-day moving average price of $156.70 and a 200-day moving average price of $145.84.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, April 26th. The company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.05 earnings per share. Equities analysts predict that AutoNation will post 18.73 EPS for the current year.

AutoNation announced that its Board of Directors has initiated a stock buyback program on Friday, April 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 14.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the sale, the director now directly owns 48,793 shares in the company, valued at $8,197,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David B. Edelson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now owns 48,793 shares in the company, valued at $8,197,224. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the completion of the transaction, the insider now owns 4,167,270 shares in the company, valued at $672,013,960.20. The disclosure for this sale can be found here. Insiders have sold a total of 131,279 shares of company stock worth $21,041,962 in the last ninety days. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoNation

Several large investors have recently modified their holdings of AN. Connor Clark & Lunn Investment Management Ltd. lifted its position in AutoNation by 4.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,695 shares of the company’s stock worth $6,767,000 after acquiring an additional 1,983 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of AutoNation during the 3rd quarter worth approximately $919,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of AutoNation by 69.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,569 shares of the company’s stock worth $1,752,000 after acquiring an additional 4,748 shares during the period. Quadrature Capital Ltd purchased a new position in AutoNation in the 3rd quarter valued at approximately $1,525,000. Finally, Dorsey Wright & Associates acquired a new position in AutoNation during the third quarter worth $1,329,000. 94.62% of the stock is owned by institutional investors and hedge funds.

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.