AutoNation Rating Reiterated by Zacks (AN)
AutoNation (NYSE:AN)‘s stock had its “neutral” rating restated by Zacks in a report issued on Thursday. They currently have a $57.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.63% from the stock’s previous close.
Zacks’ analyst wrote, “AutoNation posted a 13.7% rise in earnings per share to $0.83 in the second quarter of 2014. However, earnings per share missed the Zacks Consensus Estimate of $0.87. Revenues increased 8.2% to $4.79 billion, marginally beating the Zacks Consensus Estimate of $4.77 billion. The upside can be attributed to strong performance in new vehicles, parts and service, and finance and insurance businesses. The Premium Luxury segment gained the most in the quarter. With the improvement in market dynamics, the company’s optimal brand and market mix should boost new vehicle sales. Meanwhile, AutoNation’s efforts to expand its dealer network should help it outperform peers. However, rising interest rates pose a threat. Thus, we are reiterating our Neutral recommendation on the stock. “
Shares of AutoNation (NYSE:AN) traded down 0.11% on Thursday, hitting $53.90. The stock had a trading volume of 159,244 shares. AutoNation has a one year low of $44.92 and a one year high of $61.29. The stock’s 50-day moving average is $55.83 and its 200-day moving average is $54.87. The company has a market cap of $6.389 billion and a price-to-earnings ratio of 16.60.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.83 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.86 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that AutoNation will post $3.34 EPS for the current fiscal year.
Separately, analysts at Goldman Sachs upgraded shares of AutoNation from a “neutral” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $65.00 price target on the stock, up previously from $56.00. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.80.
AutoNation, Inc (NYSE:AN) is an automotive retailer in the United States.
To view Zacks’ full report, visit Zacks’ official website.
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