AutoNation (NYSE:AN) Hits New 52-Week High on Strong Earnings

AutoNation, Inc. (NYSE:AN)’s stock price reached a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.26 by $0.71. AutoNation had a net margin of 2.74% and a return on equity of 32.01%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in AutoNation by 2.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,845 shares of the company’s stock valued at $509,000 after acquiring an additional 62 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of AutoNation by 2.2% during the third quarter. OLD National Bancorp IN now owns 3,100 shares of the company’s stock valued at $555,000 after purchasing an additional 68 shares during the period. CIBC Asset Management Inc grew its holdings in shares of AutoNation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,290 shares of the company’s stock worth $219,000 after purchasing an additional 68 shares during the last quarter. Strengthening Families & Communities LLC increased its stake in AutoNation by 2.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 3,472 shares of the company’s stock worth $590,000 after buying an additional 69 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in AutoNation by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 3,866 shares of the company’s stock valued at $657,000 after buying an additional 74 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $7.56 billion, a PE ratio of 11.01, a PEG ratio of 3.71 and a beta of 1.25. The firm’s 50-day simple moving average is $178.64 and its 200-day simple moving average is $173.12.

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.