AutoNation (NYSE:AN) Upgraded by Northcoast Research to Buy Rating

Northcoast Research upgraded shares of AutoNation (NYSE:AN) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat reports. Northcoast Research currently has $240.00 price objective on the stock.

Several other brokerages also recently weighed in on AN. Weiss Ratings raised AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup raised their target price on AutoNation from $269.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, May 14th. UBS Group began coverage on AutoNation in a research report on Wednesday, May 27th. They set a “buy” rating and a $234.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of AutoNation from $208.00 to $202.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $240.00 price objective on shares of AutoNation in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $245.73.

AutoNation Trading Up 1.4%

Shares of AN stock opened at $196.07 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.81 and a debt-to-equity ratio of 2.62. AutoNation has a fifty-two week low of $176.62 and a fifty-two week high of $228.92. The firm’s 50 day moving average price is $191.16 and its two-hundred day moving average price is $198.50. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.82 and a beta of 0.75.

AutoNation (NYSE:AN) last issued its earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.68 EPS. On average, analysts anticipate that AutoNation will post 21.35 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Kimberly Dees sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the sale, the chief accounting officer owned 1,456 shares in the company, valued at approximately $298,348.96. This represents a 63.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of AutoNation by 8.9% during the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after buying an additional 1,551 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of AutoNation in the first quarter worth about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AutoNation by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock worth $15,967,000 after buying an additional 9,656 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of AutoNation by 17.3% during the 1st quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock worth $562,000 after acquiring an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.