AutoNation (NYSE:AN) Hits New 1-Year High After Strong Earnings

AutoNation, Inc. (NYSE:AN) hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $198.50 and last traded at $191.89, with a volume of 174777 shares trading hands. The stock had previously closed at $192.64.

The company reported $4.97 earnings per share for the quarter, beating analysts’ consensus estimates of $4.26 by $0.71. AutoNation had a net margin of 2.74% and a return on equity of 32.01%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AN. JPMorgan Chase & Co. cut their target price on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Stephens raised their price objective on shares of AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating on shares of AutoNation in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of AutoNation from $170.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Hedge Funds Weigh In On AutoNation

Several institutional investors and hedge funds have recently made changes to their positions in AN. GAMMA Investing LLC lifted its stake in AutoNation by 54.0% in the third quarter. GAMMA Investing LLC now owns 311 shares of the company’s stock worth $56,000 after purchasing an additional 109 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of AutoNation by 28.1% in the third quarter. NBC Securities Inc. now owns 802 shares of the company’s stock worth $143,000 after buying an additional 176 shares during the period. Kapitalo Investimentos Ltda increased its holdings in shares of AutoNation by 10.6% in the third quarter. Kapitalo Investimentos Ltda now owns 1,708 shares of the company’s stock worth $306,000 after buying an additional 163 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of AutoNation in the 3rd quarter valued at about $313,000. Finally, Ellsworth Advisors LLC boosted its holdings in AutoNation by 12.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 4,335 shares of the company’s stock valued at $776,000 after acquiring an additional 494 shares during the period. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Down 1.7 %

The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.20 and a current ratio of 0.80. The firm has a 50-day moving average of $179.12 and a 200-day moving average of $173.37. The firm has a market capitalization of $7.60 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 3.71 and a beta of 1.25.

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.