AutoNation (AN) Downgraded to “C+” at TheStreet

TheStreet cut shares of AutoNation (NYSE:AN) from a b- rating to a c+ rating in a research report sent to investors on Tuesday.

Other analysts also recently issued research reports about the company. SunTrust Banks began coverage on AutoNation in a research note on Friday, August 24th. They issued a hold rating and a $48.00 price objective on the stock. ValuEngine downgraded AutoNation from a sell rating to a strong sell rating in a research note on Monday. Buckingham Research reduced their price objective on AutoNation from $51.00 to $47.00 and set a neutral rating on the stock in a research note on Thursday, August 2nd. Finally, Morgan Stanley downgraded AutoNation from an overweight rating to an underweight rating and set a $57.00 price objective on the stock. in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. AutoNation presently has a consensus rating of Hold and a consensus target price of $52.88.

Shares of AN opened at $42.53 on Tuesday. The company has a market cap of $3.82 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28. AutoNation has a 12-month low of $42.20 and a 12-month high of $62.02. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.20 and a current ratio of 0.86.

AutoNation (NYSE:AN) last issued its earnings results on Wednesday, August 1st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. AutoNation had a return on equity of 16.64% and a net margin of 2.02%. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. equities analysts expect that AutoNation will post 4.7 EPS for the current year.

In other news, Director David B. Edelson sold 42,000 shares of AutoNation stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $48.28, for a total value of $2,027,760.00. Following the completion of the transaction, the director now owns 70,946 shares in the company, valued at approximately $3,425,272.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rick L. Burdick sold 4,808 shares of AutoNation stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $47.00, for a total value of $225,976.00. Following the completion of the transaction, the director now owns 38,686 shares of the company’s stock, valued at approximately $1,818,242. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,455 shares of company stock worth $4,056,689. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. purchased a new position in shares of AutoNation in the 2nd quarter worth approximately $1,233,000. Public Employees Retirement System of Ohio boosted its holdings in shares of AutoNation by 56.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 57,319 shares of the company’s stock worth $2,785,000 after purchasing an additional 20,776 shares during the period. Global X Management Co LLC boosted its holdings in shares of AutoNation by 33.8% in the 2nd quarter. Global X Management Co LLC now owns 19,029 shares of the company’s stock worth $924,000 after purchasing an additional 4,803 shares during the period. Jane Street Group LLC purchased a new position in shares of AutoNation in the 2nd quarter worth approximately $222,000. Finally, California Public Employees Retirement System boosted its holdings in shares of AutoNation by 2.8% in the 2nd quarter. California Public Employees Retirement System now owns 185,716 shares of the company’s stock worth $9,022,000 after purchasing an additional 5,008 shares during the period. Hedge funds and other institutional investors own 65.93% of the company’s stock.

About AutoNation

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.

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Analyst Recommendations for AutoNation (NYSE:AN)

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