AutoNation (NYSE:AN) Price Target Cut to $269.00 by Analysts at Citigroup

AutoNation (NYSE:AN) had its price objective cut by Citigroup from $280.00 to $269.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 target price for the company in a research report on Friday, January 16th. Morgan Stanley boosted their target price on AutoNation from $233.00 to $238.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Stephens boosted their target price on AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 11th. Weiss Ratings lowered AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Finally, Bank of America began coverage on AutoNation in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $246.89.

AutoNation Price Performance

Shares of NYSE:AN opened at $197.26 on Wednesday. AutoNation has a fifty-two week low of $154.73 and a fifty-two week high of $228.92. The business has a 50-day simple moving average of $196.99 and a two-hundred day simple moving average of $205.50. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.22 and a current ratio of 0.84. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 11.56 and a beta of 0.81.

AutoNation (NYSE:AN) last issued its earnings results on Friday, February 6th. The company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The business had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the firm earned $4.97 EPS. AutoNation’s revenue was down 3.9% on a year-over-year basis. On average, analysts expect that AutoNation will post 18.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AN. Commonwealth Equity Services LLC raised its stake in shares of AutoNation by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company’s stock worth $1,960,000 after buying an additional 52 shares during the period. Kestra Advisory Services LLC raised its stake in shares of AutoNation by 0.9% in the fourth quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock worth $1,170,000 after buying an additional 53 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of AutoNation by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock worth $1,376,000 after buying an additional 55 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of AutoNation by 13.3% in the third quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company’s stock worth $114,000 after buying an additional 61 shares during the period. Finally, Crestwood Advisors Group LLC raised its stake in shares of AutoNation by 3.2% in the third quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company’s stock worth $454,000 after buying an additional 64 shares during the period. 94.62% of the stock is owned by hedge funds and other institutional investors.

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.