AutoNation (NYSE:AN) Reaches New 1-Year High on Better-Than-Expected Earnings

AutoNation, Inc. (NYSE:AN - Get Free Report)'s share price reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $198.50 and last traded at $191.89, with a volume of 174777 shares traded. The stock had previously closed at $192.64.

The company reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $0.71. AutoNation had a return on equity of 32.01% and a net margin of 2.74%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on AutoNation from $170.00 to $194.00 and gave the company an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on AutoNation from $190.00 to $180.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Stephens upped their price objective on AutoNation from $195.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday. Guggenheim restated a "buy" rating on shares of AutoNation in a research note on Wednesday. Finally, StockNews.com upgraded AutoNation from a "hold" rating to a "buy" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners grew its stake in shares of AutoNation by 12.6% during the 4th quarter. Boston Partners now owns 1,814,228 shares of the company's stock worth $309,312,000 after acquiring an additional 203,335 shares during the period. State Street Corp grew its stake in shares of AutoNation by 2.3% during the 3rd quarter. State Street Corp now owns 854,034 shares of the company's stock worth $152,804,000 after acquiring an additional 19,037 shares during the period. Alliancebernstein L.P. grew its stake in shares of AutoNation by 23.3% during the 4th quarter. Alliancebernstein L.P. now owns 851,870 shares of the company's stock worth $144,682,000 after acquiring an additional 160,794 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of AutoNation by 422.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 575,000 shares of the company's stock worth $97,658,000 after acquiring an additional 465,000 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in AutoNation by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 435,363 shares of the company's stock worth $73,965,000 after purchasing an additional 1,633 shares in the last quarter. Institutional investors own 94.62% of the company's stock.

AutoNation Price Performance

The business has a fifty day moving average of $179.12 and a 200-day moving average of $173.37. The firm has a market cap of $7.64 billion, a PE ratio of 11.08, a PEG ratio of 3.71 and a beta of 1.25. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58.

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.