Brokers Set Expectations for AutoNation FY2024 Earnings

AutoNation, Inc. (NYSE:AN) – Research analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for AutoNation in a research report issued on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $16.62 for the year, down from their prior forecast of $17.04. The consensus estimate for AutoNation’s current full-year earnings is $16.74 per share. Seaport Res Ptn also issued estimates for AutoNation’s Q4 2024 earnings at $4.11 EPS and FY2025 earnings at $17.01 EPS.

Other equities analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of AutoNation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. Guggenheim lowered their target price on shares of AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company lowered their target price on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Stephens began coverage on shares of AutoNation in a report on Thursday, September 12th. They set an “overweight” rating and a $210.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.29.

AutoNation Price Performance

Shares of AN opened at $179.63 on Monday. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 3.62 and a beta of 1.21. AutoNation has a 1-year low of $130.35 and a 1-year high of $197.18. The company’s fifty day simple moving average is $167.63 and its 200 day simple moving average is $168.54. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58.

Hedge Funds Weigh In On AutoNation

Several institutional investors and hedge funds have recently modified their holdings of AN. Boston Partners acquired a new position in shares of AutoNation in the first quarter valued at $170,270,000. Simcoe Capital Management LLC bought a new stake in shares of AutoNation in the third quarter valued at about $42,255,000. Holocene Advisors LP bought a new stake in shares of AutoNation in the third quarter valued at about $20,046,000. WINTON GROUP Ltd bought a new stake in shares of AutoNation in the second quarter valued at about $15,832,000. Finally, Verition Fund Management LLC boosted its position in shares of AutoNation by 739.9% in the third quarter. Verition Fund Management LLC now owns 109,040 shares of the company’s stock valued at $19,509,000 after acquiring an additional 96,058 shares during the period. 94.62% of the stock is currently owned by institutional investors and hedge funds.

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.