Moffett Nathanson Initiates Coverage on AutoNation (AN)

Equities research analysts at Moffett Nathanson began coverage on shares of AutoNation (NYSE:AN) in a report released on Monday. The firm set a “neutral” rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $50.00 target price (up from $40.00) on shares of AutoNation in a research report on Monday, November 6th. Susquehanna Bancshares reaffirmed a “negative” rating on shares of AutoNation in a research report on Thursday, September 28th. ValuEngine raised shares of AutoNation from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group upped their target price on shares of AutoNation from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Finally, BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. AutoNation has an average rating of “Hold” and an average target price of $46.88.

AutoNation (NYSE:AN) opened at $55.84 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.17 and a debt-to-equity ratio of 0.59. The stock has a market cap of $5,132.46, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. AutoNation has a 1 year low of $38.20 and a 1 year high of $57.83.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.16. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.58 billion. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. equities research analysts predict that AutoNation will post 3.76 earnings per share for the current year.

AutoNation announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 29th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

In related news, COO Lance E. Iserman sold 5,886 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $52.46, for a total transaction of $308,779.56. Following the sale, the chief operating officer now directly owns 4,860 shares of the company’s stock, valued at approximately $254,955.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donna L. Parlapiano sold 3,367 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $51.81, for a total transaction of $174,444.27. Following the sale, the executive vice president now directly owns 11,469 shares in the company, valued at $594,208.89. The disclosure for this sale can be found here. Insiders have sold a total of 12,733 shares of company stock worth $676,747 over the last three months. 3.10% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its stake in AutoNation by 5.5% during the 1st quarter. Teachers Advisors LLC now owns 83,685 shares of the company’s stock valued at $3,539,000 after acquiring an additional 4,354 shares during the period. Bank of Montreal Can lifted its stake in AutoNation by 40.2% during the 2nd quarter. Bank of Montreal Can now owns 49,581 shares of the company’s stock valued at $2,089,000 after acquiring an additional 14,222 shares during the period. Russell Investments Group Ltd. lifted its stake in AutoNation by 35.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 23,240 shares of the company’s stock valued at $981,000 after acquiring an additional 6,082 shares during the period. Sei Investments Co. lifted its stake in AutoNation by 753.7% during the 2nd quarter. Sei Investments Co. now owns 5,754 shares of the company’s stock valued at $242,000 after acquiring an additional 5,080 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in AutoNation by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 31,914 shares of the company’s stock valued at $1,345,000 after acquiring an additional 209 shares during the period. 77.81% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for AutoNation (NYSE:AN)

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