AutoNation (NYSE:AN) Earns Buy Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of AutoNation (NYSE:AN) in a report published on Wednesday. The brokerage issued a buy rating on the stock.

Several other research firms have also issued reports on AN. 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 lifted their price objective on shares of AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. Wells Fargo & Company upped their target price on shares of AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. Weiss Ratings lowered shares of AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, Barclays reduced their price target on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.67.

AutoNation Price Performance

AN opened at $193.34 on Wednesday. The company has a fifty day moving average price of $207.13 and a two-hundred day moving average price of $210.31. The firm has a market capitalization of $6.71 billion, a PE ratio of 11.33 and a beta of 0.89. AutoNation has a 52 week low of $148.33 and a 52 week high of $228.92. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.22 and a current ratio of 0.84.

AutoNation (NYSE:AN) last posted its quarterly 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 business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The firm’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the company earned $4.97 EPS. As a group, analysts anticipate that AutoNation will post 18.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. HM Payson & Co. bought a new stake in shares of AutoNation during the third quarter worth $31,000. Root Financial Partners LLC acquired a new position in AutoNation in the 3rd quarter worth $37,000. Smartleaf Asset Management LLC boosted its stake in AutoNation by 355.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock worth $38,000 after purchasing an additional 135 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AutoNation during the 4th quarter worth about $41,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of AutoNation in the 3rd quarter valued at about $48,000. Institutional investors 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.