Stephens Issues Positive Forecast for AutoNation (NYSE:AN) Stock Price

AutoNation (NYSE:AN) had its price objective boosted by Stephens from $228.00 to $232.00 in a report issued on Wednesday, Marketbeat Ratings reports. Stephens currently has an equal weight rating on the stock.

Several other research firms have also weighed in on AN. Evercore increased their target price on shares of AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Morgan Stanley upped their price objective on shares of AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Citigroup lifted their target price on AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of AutoNation in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price target on the stock in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $248.11.

AutoNation Trading Up 0.7%

NYSE AN opened at $208.02 on Wednesday. AutoNation has a 12 month low of $148.33 and a 12 month high of $228.92. The stock has a 50-day simple moving average of $211.74 and a 200 day simple moving average of $210.40. The company has a current ratio of 0.79, a quick ratio of 0.20 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $7.59 billion, a PE ratio of 12.19 and a beta of 0.88.

AutoNation (NYSE:AN) last posted its earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.17. The company had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7.21 billion. AutoNation had a return on equity of 31.30% and a net margin of 2.35%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.97 EPS. Research analysts forecast that AutoNation will post 18.15 EPS for the current year.

AutoNation announced that its Board of Directors has approved a share repurchase plan on Friday, October 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On AutoNation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aaron Wealth Advisors LLC purchased a new position in AutoNation during the third quarter worth about $1,401,000. Paradigm Asset Management Co. LLC purchased a new position in shares of AutoNation in the 2nd quarter worth approximately $1,251,000. Davis Capital Management purchased a new position in shares of AutoNation in the 3rd quarter worth approximately $2,024,000. Dynasty Wealth Management LLC grew its holdings in shares of AutoNation by 65.2% in the third quarter. Dynasty Wealth Management LLC now owns 6,991 shares of the company’s stock valued at $1,529,000 after acquiring an additional 2,759 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in AutoNation by 873.3% during the second quarter. Allworth Financial LP now owns 4,886 shares of the company’s stock worth $971,000 after acquiring an additional 4,384 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.