Susquehanna Bancshares Inc Reaffirms Negative Rating for AutoNation, Inc. (AN)
Susquehanna Bancshares Inc restated their negative rating on shares of AutoNation, Inc. (NYSE:AN) in a research report report published on Thursday morning, Marketbeat.com reports.
Several other analysts have also weighed in on the company. Deutsche Bank AG restated a hold rating and set a $43.00 price target (down previously from $46.00) on shares of AutoNation in a report on Wednesday, August 9th. ValuEngine lowered AutoNation from a buy rating to a hold rating in a report on Friday, September 1st. Jefferies Group LLC restated a hold rating and set a $49.00 price target on shares of AutoNation in a report on Thursday, July 6th. Buckingham Research decreased their price target on AutoNation from $44.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, August 3rd. Finally, Northcoast Research upgraded AutoNation from a neutral rating to a buy rating and set a $51.00 price target on the stock in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $45.70.
AutoNation (NYSE AN) opened at 47.46 on Thursday. AutoNation has a one year low of $38.20 and a one year high of $53.74. The company has a market cap of $4.77 billion, a PE ratio of 11.82 and a beta of 1.22. The stock has a 50 day moving average of $42.99 and a 200 day moving average of $41.95.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). The firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a return on equity of 16.71% and a net margin of 1.90%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, analysts anticipate that AutoNation will post $3.59 earnings per share for the current fiscal year.
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AutoNation announced that its board has authorized a share repurchase program on Tuesday, August 29th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $38.99, for a total value of $109,172.00. Following the sale, the director now owns 30,713 shares in the company, valued at $1,197,499.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its stake in AutoNation by 43.8% in the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after purchasing an additional 1,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in AutoNation in the first quarter worth $206,000. Achmea Investment Management B.V. purchased a new stake in AutoNation in the first quarter worth $209,000. Invictus RG increased its stake in AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after purchasing an additional 1,833 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in AutoNation by 8.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 73.42% of the company’s stock.
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.
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