AutoNation, Inc. (NYSE:AN – Get Rating) – Stock analysts at Seaport Res Ptn increased their FY2023 earnings estimates for AutoNation in a research report issued on Friday, January 20th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $20.75 for the year, up from their previous forecast of $20.22. The consensus estimate for AutoNation's current full-year earnings is $24.07 per share.
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AutoNation (NYSE:AN – Get Rating) last issued its earnings results on Thursday, October 27th. The company reported $6.00 earnings per share for the quarter, missing the consensus estimate of $6.32 by ($0.32). The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.65 billion. AutoNation had a net margin of 5.50% and a return on equity of 62.53%.
Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of AutoNation from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $104.00 to $96.00 in a research report on Tuesday, January 17th. StockNews.com initiated coverage on shares of AutoNation in a research report on Wednesday, October 12th. They set a "buy" rating on the stock. Wells Fargo & Company downgraded shares of AutoNation from an "overweight" rating to an "equal weight" rating and set a $126.00 target price for the company. in a research note on Friday, January 13th. JPMorgan Chase & Co. downgraded shares of AutoNation from an "overweight" rating to a "neutral" rating and set a $125.00 target price for the company. in a research note on Thursday, October 6th. Finally, Guggenheim boosted their target price on shares of AutoNation to $154.00 in a research note on Tuesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.88.
AutoNation Stock Performance
NYSE:AN opened at $113.78 on Monday. The firm's fifty day moving average price is $113.96 and its 200 day moving average price is $113.71. AutoNation has a 1-year low of $94.92 and a 1-year high of $135.57. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.05 and a quick ratio of 0.42. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 4.66, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.
Insider Transactions at AutoNation
In other news, EVP Marc G. Cannon sold 1,850 shares of the business's stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $122.50, for a total transaction of $226,625.00. Following the completion of the sale, the executive vice president now owns 13,401 shares in the company, valued at approximately $1,641,622.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AutoNation news, major shareholder Edward S. Lampert sold 63,090 shares of the company's stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $117.46, for a total value of $7,410,551.40. Following the completion of the transaction, the insider now owns 6,003,888 shares in the company, valued at approximately $705,216,684.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marc G. Cannon sold 1,850 shares of the company's stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $122.50, for a total value of $226,625.00. Following the completion of the transaction, the executive vice president now owns 13,401 shares of the company's stock, valued at approximately $1,641,622.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 344,019 shares of company stock worth $37,978,902. 0.64% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On AutoNation
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC boosted its stake in shares of AutoNation by 2.7% during the 4th quarter. Quent Capital LLC now owns 6,339 shares of the company's stock valued at $680,000 after buying an additional 164 shares during the last quarter. SummerHaven Investment Management LLC increased its position in AutoNation by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 6,787 shares of the company's stock worth $728,000 after buying an additional 94 shares during the period. Ronald Blue Trust Inc. increased its position in AutoNation by 74.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,683 shares of the company's stock worth $171,000 after buying an additional 719 shares during the period. WealthPlan Investment Management LLC acquired a new stake in AutoNation in the third quarter worth $553,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of AutoNation by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 468,950 shares of the company's stock valued at $47,772,000 after purchasing an additional 16,528 shares during the period. Hedge funds and other institutional investors own 86.31% of the company's stock.
About AutoNation
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AutoNation, Inc engages in the provision of automotive products and services. It operates through the following segments: Domestic, Import, Premium Luxury, and Corporate & Other. The Domestic segment comprises retail automotive franchises that sell new vehicles manufactured by General Motors, Ford and Stellantis.
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