AutoNation (NYSE: AN) is a leading automotive retailer in the United States, offering a wide range of new and used vehicles, as well as automotive services. The company competes with other major players in the industry, such as CarMax and Penske Automotive Group. Recently, Colin Langan from Wells Fargo set a new price target for AN at $230, up from a previous target of $222, as reported by TheFly.
At the time of this announcement, AN was trading at $216.65, indicating a potential 6.16% increase to reach the new target. This optimism is supported by AutoNation's strong financial performance. In the fourth quarter and throughout the year, the company experienced revenue growth and increased adjusted earnings, as highlighted by CEO Mike Manley. Despite a challenging sales environment, AutoNation generated over $1 billion in adjusted free cash flow.
For the full year, AutoNation's revenue increased by 3% to $27.6 billion, and adjusted earnings per share (EPS) rose by 16% to $20.22. CFO Tom Szlosek noted that adjusted net income grew by 8% to $757 million. In the fourth quarter, the adjusted EPS was $5.08, a 2% rise compared to the previous year, although adjusted net income was slightly down at $186 million from $199 million the year before.
The stock for AN is currently priced at $216.65, reflecting an increase of 6.19% or $12.63. Today, the stock has fluctuated between a low of $203.10 and a high of $223.41. Over the past year, the stock has reached a high of $228.92 and a low of $148.33. The company's market capitalization stands at approximately $7.9 billion, with a trading volume of 1,061,444 shares on the NYSE.
