Seaport Global Initiates Coverage on AutoNation to Neutral

Seaport Global Initiates Coverage on AutoNation(NYSE:AN). The shares have been rated Neutral. The rating by Seaport Global was issued on Aug 9, 2016.

In a different note, On Aug 1, 2016, Jefferies said it Maintains its rating on AutoNation. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Hold’ by the firm.

AutoNation (AN) shares turned negative on Wednesdays trading session with the shares closing down -0.6 points or -1.23% at a volume of 11,10,145. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.84. The peak price level was also seen at $48.84 while the days lowest was $47.92. Finally the shares closed at $48.27. The 52-week high of the shares is $65.505 while the 52-week low is $40.45. According to the latest information available, the market cap of the company is $4,928 M.

AutoNation(AN) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.44B. Analysts had an estimated revenue of $5.50B. Earnings per share were $1.08. Analysts had estimated an EPS of $1.05.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Jonathan P Ferrando (EVP – GC, Corp Dev & HR) sold 20,000 shares at $50.32 per share price.Also, On Jun 9, 2016, William R Berman (EVP and COO) sold 1,473 shares at $50.77 per share price.On Feb 26, 2016, Karen C Francis (director) purchased 500 shares at $51.73 per share price, according to the Form-4 filing with the securities and exchange commission.

AutoNation Inc. is an automotive retailer in the United States. The Company offers a range of automotive products and services including new vehicles used vehicles parts and service which includes automotive repair and maintenance services as well as wholesale parts and collision businesses and automotive finance and insurance products which includes vehicle service and other protection products as well as the arranging of financing for vehicle purchases through third-party finance sources. It operates through three segments: The Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors Ford and Chrysler. The Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota Honda and Nissan. The Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz BMW and Lexus.

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