JPMorgan Chase & Co. Issues Pessimistic Forecast for AutoNation (NYSE:AN) Stock Price

AutoNation (NYSE:AN) had its target price cut by equities researchers at JPMorgan Chase & Co. from $210.00 to $185.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.70% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Argus boosted their price target on AutoNation from $241.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Morgan Stanley lowered AutoNation from an “overweight” rating to a “negative” rating in a report on Monday. Seaport Research Partners restated a “buy” rating and issued a $255.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Weiss Ratings cut AutoNation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, September 21st. Finally, Citigroup decreased their target price on AutoNation from $290.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

AutoNation Stock Performance

Shares of AN stock traded down $4.49 on Tuesday, reaching $157.19. The stock had a trading volume of 342,973 shares, compared to its average volume of 442,952. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.79 and a beta of 0.81. The firm’s 50-day moving average is $195.95 and its two-hundred day moving average is $195.35. AutoNation has a 12 month low of $152.86 and a 12 month high of $235.81. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the business posted $2.26 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that AutoNation will post 21.69 EPS for the current fiscal year.

Insider Transactions at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the sale, the director owned 7,989 shares of the company’s stock, valued at approximately $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP boosted its position in shares of AutoNation by 56.0% during the 2nd quarter. Engineers Gate Manager LP now owns 39,379 shares of the company’s stock valued at $7,316,000 after acquiring an additional 14,134 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of AutoNation in the 2nd quarter valued at $3,474,000. Jupiter Topco LLC acquired a new position in AutoNation in the second quarter valued at approximately $2,000,000. PDT Partners LLC purchased a new position in shares of AutoNation during the second quarter worth about $2,824,000. Finally, Hsbc Holdings PLC boosted its stake in AutoNation by 967.8% during the 2nd quarter. Hsbc Holdings PLC now owns 18,750 shares of the company’s stock worth $3,483,000 after purchasing an additional 16,994 shares during the period. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

About AutoNation

AutoNation, Inc is an automotive retailer headquartered in Fort Lauderdale, Florida. The company sells new and used vehicles through a network of franchised dealerships representing a range of major automotive brands, as well as through digital retailing channels.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision repair, vehicle protection products, financing assistance and other related services. Its operations support customers throughout the vehicle ownership cycle, from purchase and financing to routine service and repairs.

The company traces its origins to Republic Industries, which entered the automotive retail business in the 1990s and adopted the AutoNation name in 1998.