Q3 EPS Estimates for AutoNation Lowered by Seaport Res Ptn

AutoNation, Inc. (NYSE:AN) – Investment analysts at Seaport Res Ptn cut their Q3 2024 EPS estimates for AutoNation in a report issued on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $4.29 for the quarter, down from their prior estimate of $4.56. The consensus estimate for AutoNation’s current full-year earnings is $17.57 per share. Seaport Res Ptn also issued estimates for AutoNation’s Q4 2024 earnings at $4.26 EPS and FY2024 earnings at $17.04 EPS.

AutoNation (NYSE:AN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.31 by ($0.32). The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. AutoNation had a net margin of 2.93% and a return on equity of 36.50%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the company earned $6.29 earnings per share.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Stephens assumed coverage on shares of AutoNation in a report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price objective for the company. Bank of America decreased their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $145.00 to $200.00 in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and an average price target of $200.38.

AutoNation Stock Down 1.4 %

Shares of AN opened at $161.75 on Wednesday. The stock’s 50-day moving average price is $171.22 and its 200-day moving average price is $167.80. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 3.38 and a beta of 1.19. AutoNation has a 52 week low of $123.81 and a 52 week high of $197.18.

Insider Buying and Selling at AutoNation

In other news, major shareholder Edward S. Lampert sold 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the sale, the insider now owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 500 shares of AutoNation stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the transaction, the insider now directly owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Edward S. Lampert sold 39,194 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $183.43, for a total value of $7,189,355.42. Following the sale, the insider now directly owns 3,786,144 shares of the company’s stock, valued at approximately $694,492,393.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,256 shares of company stock worth $17,641,954. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On AutoNation

A number of hedge funds have recently made changes to their positions in AN. Riverview Trust Co acquired a new position in AutoNation in the 1st quarter valued at about $33,000. 180 Wealth Advisors LLC increased its position in shares of AutoNation by 2.7% during the first quarter. 180 Wealth Advisors LLC now owns 5,086 shares of the company’s stock worth $842,000 after acquiring an additional 133 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of AutoNation by 14.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,342 shares of the company’s stock valued at $3,037,000 after acquiring an additional 2,353 shares in the last quarter. State of Michigan Retirement System raised its position in AutoNation by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 6,348 shares of the company’s stock valued at $1,051,000 after purchasing an additional 100 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in AutoNation by 79.7% in the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

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.