AutoNation (NYSE:AN) Hits New 12-Month High Following Strong Earnings

AutoNation, Inc. (NYSE:AN)’s share price reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $198.50 and last traded at $191.89, with a volume of 174777 shares changing hands. The stock had previously closed at $192.64.

The company reported $4.97 earnings per share for the quarter, topping analysts’ consensus estimates of $4.26 by $0.71. AutoNation had a return on equity of 32.01% and a net margin of 2.74%.

Analyst Ratings Changes

AN has been the topic of several recent research reports. Wells Fargo & Company upped their price target on AutoNation from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Stephens increased their target price on AutoNation from $192.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Bank of America dropped their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Guggenheim reduced their price objective on shares of AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.57.

Hedge Funds Weigh In On AutoNation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in shares of AutoNation by 74.9% in the fourth quarter. Teacher Retirement System of Texas now owns 9,705 shares of the company’s stock worth $1,648,000 after acquiring an additional 4,156 shares during the period. Xponance Inc. grew its stake in shares of AutoNation by 4.1% during the 4th quarter. Xponance Inc. now owns 3,774 shares of the company’s stock valued at $641,000 after purchasing an additional 147 shares during the period. Boston Partners grew its stake in shares of AutoNation by 12.6% during the 4th quarter. Boston Partners now owns 1,814,228 shares of the company’s stock valued at $309,312,000 after purchasing an additional 203,335 shares during the period. Intech Investment Management LLC increased its position in shares of AutoNation by 47.5% during the 4th quarter. Intech Investment Management LLC now owns 6,415 shares of the company’s stock valued at $1,090,000 after purchasing an additional 2,066 shares during the last quarter. Finally, Curio Wealth LLC bought a new position in shares of AutoNation in the 4th quarter worth approximately $197,000. 94.62% of the stock is owned by institutional investors.

AutoNation Stock Performance

The business’s fifty day moving average is $178.64 and its 200-day moving average is $173.12. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. The company has a market cap of $7.56 billion, a PE ratio of 11.01, a P/E/G ratio of 3.71 and a beta of 1.25.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.