에 대한 최신 뉴스 AutoNation (NYSE:AN) 주식

AutoNation

AutoNation is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers. The firm also has 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 21 states primarily in Sunbelt metropolitan areas. New-vehicle sales account for nearly half of revenue; the company also sells used vehicles, parts, and repair services as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000. Wayne Huizenga founded the company in the 1990s to bring the rollup acquisition strategy to auto retailing, which has proved to be a smart move.

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금요일 아침 (현지 시간 기준) 미국 주식 선물이 약간 높게 거래되면서 오늘 투자자의 관심을 끌 수 있는 일부 주식은 다음과 같다: 1. 월스트리트는 오토네이션(NYSE:AN)이 개장 전 분기별 주당 순이익 $4.38와 매출 $67.1억 달러를 보고할 것으로 예상하고 있다. 오토네이션의 주식은 애프터 마켓에서 0.4% 상승하여 $163.81에 거래되었다.

금요일 주목해야 할 주식: 오토네이션, 캐피털 원, 콜게이트 그리고 2종목

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Disclosed on December 9, ROBERT GRUSKY, Director at AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: According to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000350698/000035069824000122//Archives/edgar/data/350698/000035069824000122/0000350698-24-000122-index.htm">U.S. Securities and Exchange Commission</a> on Monday, GRUSKY sold 1,000 shares of AutoNation. The total transaction value is $179,788.
During Tuesday's morning session, AutoNation shares up by 0.68%, currently priced at $178.21.
<h3>Delving into AutoNation's Background</h3>
AutoNation is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers. The firm also has 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 21 states primarily in Sunbelt metropolitan areas. New-vehicle sales account for nearly half of revenue; the company also sells used vehicles, parts, and repair services as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000. Wayne Huizenga founded the company in the 1990s to bring the rollup acquisition strategy to auto retailing, which has proved to be a smart move.
<h3>AutoNation: Delving into Financials</h3>
Revenue Growth: AutoNation's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2024, the company experienced a revenue decline of approximately -4.45%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 17.96%, suggesting potential challenges in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): AutoNation's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 4.66.
</li>
</ul>
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.69, caution is advised due to increased financial risk.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 10.17, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 0.28 is lower than the industry average, implying a discounted valuation for AutoNation's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With a below-average EV/EBITDA ratio of 9.93, AutoNation presents an opportunity for value investors. This lower valuation may attract investors seeking undervalued opportunities.
</li>
</ul>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
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<h3>The Impact of Insider Transactions on Investments</h3>
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Important Transaction Codes</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000350698">Check Out The Full List Of AutoNation's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Insider Decision: ROBERT GRUSKY Offloads $179K Worth Of AutoNation Stock

As of Dec. 5, 2024, three stocks in the consumer discretionary sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to<a href="https://pro.benzinga.com/"> Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Five Below Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>)</h3>
<ul>
<li>On Dec. 4, Five Below reported better-than-expected results for its third quarter and issued strong guidance for fiscal 2024. The company also announced the appointment of Winnie Park as CEO and a member of its board of directors, effective Dec. 16. The company's stock gained around 17% over the past five days and has a <a href="https://www.benzinga.com/quote/FIVE">52-week high of $216.18</a>.</li>
<li>RSI Value: 78.87&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>FIVE Price Action: Shares of Five Below gained 1.7% to close at $104.97 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>)</h3>
<ul>
<li>On Nov. 25, Chegg announced a repurchase agreement for its 0% convertible senior notes due 2026. Chegg entered into private agreements with certain noteholders to repurchase approximately $116.6 million of its outstanding 0% convertible senior notes due 2026 for a cash price of $96.2 million. The repurchase transactions were entered into as part of Chegg&#8217;s previously announced securities repurchase program. The company's stock gained around 43% over the past month and <a href="https://www.benzinga.com/quote/CHGG">has a 52-week high</a> of $11.48.</li>
<li>RSI Value: 75.33</li>
<li>CHGG Price Action: Shares of Chegg gained 4.5% to close at $2.56 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>)</h3>
<ul>
<li>On Oct. 25, AutoNation reported worse-than-expected third-quarter financial results. The company reported adjusted earnings per share of $4.02, missing the street view of $4.38. Quarterly sales of $6.586 billion missed the analyst consensus estimate of $6.71 billion. The company's stock gained around 13% over the past month and has a <a href="https://www.benzinga.com/quote/AN">52-week high</a> of $197.18.</li>
<li>RSI Value: 76.64</li>
<li>AN Price Action: Shares of AutoNation gained 1% to close at $182.16 on Wednesday.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42313903/top-3-tech-and-telecom-stocks-that-may-implode-this-quarter">Top 3 Tech And Telecom Stocks That May Implode This Quarter</a></li>
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Short Ideas

CHGG

FIVE

Top 3 Consumer Stocks That May Keep You Up At Night This Quarter

Seaport Global analyst Glenn Chin maintains AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) with a Buy and raises the price target from $180 to $200.

Price Target

Analyst Ratings

Seaport Global Maintains Buy on AutoNation, Raises Price Target to $200

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Truist Securities boosted the price target for Universal Technical Institute, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTI#NYSE">UTI</a>) from $22 to $26. Truist Securities analyst Jasper Bibb maintained a Buy rating. Universal Technical Institute shares closed at $19.89 on Wednesday. <a href="https://www.benzinga.com/quote/UTI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel increased the price target for Digital Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) from $195 to $205. Stifel analyst Erik Rasmussen maintained a Buy rating. Digital Realty Trust shares closed at $185.91 on Wednesday. <a href="https://www.benzinga.com/quote/DLR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B. Riley Securities raised Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) price target from $190 to $220. B. Riley Securities analyst Naved Khan maintained a Buy rating. Wix.com shares settled at $210.27 on Wednesday. <a href="https://www.benzinga.com/quote/WIX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo boosted Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) price target from $140 to $165. Wells Fargo analyst Zachary Fadem maintained an Equal-Weight rating. Williams-Sonoma shares closed at $175.04 on Wednesday. <a href="https://www.benzinga.com/quote/WSM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Rosenblatt increased NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $200 to $220. Rosenblatt analyst Hans Mosesmann maintained a Buy rating. Nvidia shares closed at $145.89 on Wednesday.  <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS boosted Spire Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SR#NYSE">SR</a>) price target from $75 to $80. UBS analyst William Appicelli maintained a Buy rating. Spire shares closed at $68.39 on Wednesday. See how other analysts view this stock.</li>
<li>Guggenheim cut the price target for AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) from $190 to $189. Guggenheim analyst Ali Faghri maintained a Buy rating. AutoNation shares settled at $164.85 on Wednesday. <a href="https://www.benzinga.com/quote/AN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen boosted Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target from $290 to $340. TD Cowen analyst J. Derrick Wood maintained a Hold rating. Salesforce shares closed at $325.70 on Wednesday. <a href="https://www.benzinga.com/quote/CRM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Evercore ISI Group increased the price target for The TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) from $138 to $142. Evercore ISI Group analyst Michael Binetti maintained an Outperform rating. TJX shares closed at $119.74 on Wednesday. <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank boosted Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) price target from $180 to $190. Deutsche Bank analyst Brad Zelnick maintained a Buy rating. Snowflake shares closed at $129.12 on Wednesday. <a href="https://www.benzinga.com/quote/snow/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying NVDA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="549" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21135115/image-226-1024x549.png" alt="" class="wp-image-659589" style="width:718px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21135115/image-226-1024x549.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21135115/image-226-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21135115/image-226-768x412.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21135115/image-226.png 1242w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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NVDA

SNOW

Nvidia To Rally More Than 50%? Here Are 10 Top Analyst Forecasts For Thursday

Guggenheim analyst Ali Faghri maintains AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) with a Buy and lowers the price target from $190 to $189.

Guggenheim Maintains Buy on AutoNation, Lowers Price Target to $189

JP Morgan analyst Rajat Gupta maintains AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) with a Neutral and lowers the price target from $190 to $180.

JP Morgan Maintains Neutral on AutoNation, Lowers Price Target to $180

WIIM

AutoNation shares are trading lower after the company reported worse-than-expected Q3 financial results.

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 200 points on Friday.
The Dow traded up 0.34% to 42,517.13 while the NASDAQ rose 1.25% to 18,646.04. The S&amp;P 500 also rose, gaining, 0.70% to 5,850.51.
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Leading and Lagging Sectors Information technology shares rose by 1.5% on Friday.
In trading on Friday, utilities shares fell by 0.1%.
Top Headline
AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) reported downbeat third-quarter results.
The company reported adjusted earnings per share of $4.02, missing the street view of $4.38. Quarterly sales of $6.586 billion missed the analyst consensus estimate of $6.71 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Upexi, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) shares shot up 322% to $12.65 after the company said it is currently reviewing trading activity to determine if recent activity involved possible stock manipulation.</li>
<li>Shares of AgEagle Aerial Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NASDAQ">UAVS</a>) got a boost, surging 72% to $2.9686.</li>
<li>ARB IOT Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBB#NASDAQ">ARBB</a>) shares were also up, gaining 56% to $0.5127.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Top Wealth Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWG#NASDAQ">TWG</a>) shares dropped 71% to $3.9480.</li>
<li>Shares of Capri Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) were down 48% to $21.64 following a report alleging that a judge blocked the company from being acquired by Tapestry. The company intends to jointly file Tapestry a notice of appeal regarding the court&#8217;s decision.</li>
<li>Evolv Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVLV#NASDAQ">EVLV</a>) was down, falling 46% to $2.2145. The Board of Evolv Technology determined that certain financial statements should not be relied upon.</li>
</ul>
Commodities In commodity news, oil traded up 1.4% to $71.17 while gold traded up 0.1% at $2,749.10.
Silver traded up 0.8% to $34.070 on Friday, while copper rose 0.5% to $4.3750.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 gained 0.1%, Germany's DAX gained 0.3% and France's CAC 40 rose 0.1%. Spain's IBEX 35 Index fell 0.2%, while London's FTSE 100 fell 0.1%.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 falling 0.60%, Hong Kong's Hang Seng Index gaining 0.49%, China's Shanghai Composite Index gaining 0.59% and India's BSE Sensex falling 0.83%.
Foreign exchange reserves held by the Reserve Bank of India declined to $688 billion as of Oct. 18, from $704.9 billion in the final week of September.
Economics
<ul>
<li>The University of Michigan consumer sentiment for the US rose to 70.5 in October compared to a preliminary reading of 68.9.</li>
<li>U.S. durable goods orders fell by 0.8% to $284.8 billion in September compared to a revised 0.8% fall in August.</li>
</ul>
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Equities

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Intraday Update

ARBB

CPRI

EVLV

UAVS

UPXI

Nasdaq Surges Over 200 Points; AutoNation Posts Downbeat Earnings

AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) shares are trading lower after <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41540861/autonation-reports-third-quarter-2024-results" rel="noreferrer noopener">the company reported third-quarter results.</a>
The company reported adjusted earnings per share of $4.02, missing the street view of $4.38. Quarterly sales of $6.586 billion missed the analyst consensus estimate of $6.71 billion.
The third quarter results were negatively affected by the lingering impact of the CDK outage in July, which reduced earnings per share by approximately $0.21.
Domestic Segment revenues were $1.8 billion, down 10.5%; Import Segment revenues were $2.0 billion, down 1.5%; and Premium Luxury Segment revenues were $2.4 billion, down 3.6%.
Gross profit slumped 9% year over year to $1.182 billion, while adjusted operating income fell 23% to $320.3 million.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41541997/revving-up-in-the-middle-east-faradays-new-uae-headquarters-solidifies-ev-expansion-strategy" rel="noreferrer noopener">Revving Up In The Middle East: Faraday&#8217;s New UAE Headquarters Solidifies EV Expansion Strategy</a>
New vehicle gross profit decreased by $74 million, reflecting a gross profit per vehicle retailed of $2,804, down from $4,025 a year ago, despite a 1% increase in unit sales.
Used vehicle gross profit fell by $17 million, with gross profit per vehicle retailed at $1,589 compared to $1,746 last year, alongside an 8% decline in unit sales.
In contrast, after-sales gross profit rose by $12 million, or 2%, reaching $558 million, driven by higher revenue and a 50-basis point increase in margin.
During the quarter, AutoNation divested seven Domestic stores and one Import store, which represented a total of 11 franchises.
As a result of these divestitures, the company received net proceeds of&nbsp;$156 million&nbsp;and recognized a pre-tax gain of&nbsp;$53.9 million.
The company exited the quarter with cash and equivalents worth $60.2 million, while inventory totaled $3.530 billion.
Price Action: AN shares are trading lower by 4.07% to $156.54 premarket at last check Friday.
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</ul>

Guidance

Movers

General

AutoNation's Q3 Stalls: Earnings And Sales Miss Street View As CDK Outage Takes A Toll

Investors could see a second straight day of an opening in the green on Wall Street as the index futures point to a positive start on Friday. Treasury yields started cooling again after scaling three-month highs.
While Friday is a little light on the earnings side, consumer sentiment data and a speech by Boston Fed President Susan Collins could set the tone for the markets for the last day of the week.
All three major indices could close in the red for this week after surging for six consecutive weeks.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.27%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.26%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.23%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.56%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.30% to $580.95 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) surged 0.32% to $493.91, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data</a>.
Cues From Last Session:
EV giant Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares witnessed their best single-day gain in over a decade after the Elon Musk-led EV giant blew past expectations.
A tightly packed week of earnings is now drawing to a close, with nearly a third of S&amp;P 500 companies having reported their results. According to FactSet data, more than 70% of these companies have managed to beat expectations in terms of profits.
The S&amp;P 500 ended its 3-day losing streak while the Nasdaq Composite maintained its momentum on the back of Tesla and other tech stocks.
On the economic data front, U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, industrials, and utilities stocks recording the biggest losses on Thursday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.76%</td>
<td>18,415.49</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.21%</td>
<td>5,809.86</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.33%</td>
<td>42,374.36</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.23%</td>
<td>2,218.92</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Following six consecutive weeks of gains, the markets have remained gloomy this week, with tech stocks offering some respite amid sideways movements in most other sectors.
Benchmark US 10-year treasury yields continued to cool down after scaling three-month highs.
On the economic data front, the S&amp;P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September, while services PMI increased to 55.3 in October from 55.2 in the prior month.
"The election itself can be a bit of a hairy situation. I think right now, although the market sort of has been pricing in some Trump trades, I think the polls are still telling you that it&#8217;s a coin toss," Interactive Brokers chief strategist Steve Sosnick <a href="https://finance.yahoo.com/video/3-things-could-cause-market-213000687.html">said</a> in an interview with Market Domination.
On the other hand, despite the Tesla stock "firing on all cylinders" and turning positive year-to-date after Thursday's rally, fund manager Louis Navellier thinks the EV giant still <a href="https://investorplace.com/market360/2024/10/teslas-earnings-boost-stock-amid-robotaxi-innovations/">has</a> to improve its fundamentals before going long on the stock.
"Now is not a good time to buy Tesla. I would wait for its fundamentals to improve further before investing in the company."
See Also:<a href="https://www.benzinga.com/money/best-futures-trading-software"> Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>Data on durable goods orders is scheduled to be released at 8:30 a.m. ET.</li>
<li>Data on consumer sentiment is scheduled to be released at 10 a.m. ET.</li>
<li>University of Michigan (UoM) is scheduled to release one and five-year inflation expectations at 10 a.m. ET.</li>
<li>Boston Fed President Susan Collins is scheduled to speak at 11 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla will stay in focus after the stock registered its best single-day gains in over a decade, a day after beating margin and EPS estimates in its third-quarter earnings.</li>
<li>Capri Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) tumbled over 46% in premarket trading after a judge blocked its acquisition by fashion group Tapestry Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>).</li>
<li>Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) stock surged over 11% in premarket trading after the carrier announced the sale of 23 Airbus A320 aircraft worth $519 million. It also announced job cuts.</li>
</ul>
Investors are awaiting earnings results from&nbsp;AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), and HCA Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) today.
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, surging nearly 0.7% as data showed a rise in spot demand.
The 10-year Treasury note yield eased marginally to 4.198%.
Asian markets were mixed on Thursday, with Chinese markets rising marginally while Japan's Nikkei 225 registering a decline.
European stocks remained tentative in early trading, concluding what has been a gloomy week so far.
Read Next:
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</ul>
Photo courtesy: Shutterstock

Futures

Previews

Economics

Federal Reserve

SAVE

TSLA

US Stocks Set To Rise As Treasury Yields Ease, Tesla, Spirit Airlines Among Stocks In Focus: Fund Manager Says Despite Elon Musk's Company 'Firing On All Cylinders,' It's Still Not A 'Good Time To Buy'

AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) reported quarterly earnings of $4.02 per share which missed the analyst consensus estimate of $4.38 by 8.22 percent. This is a 27.44 percent decrease over earnings of $5.54 per share from the same period last year. The company reported quarterly sales of $6.59 billion which missed the analyst consensus estimate of $6.71 billion by 1.87 percent. This is a 4.45 percent decrease over sales of $6.89 billion the same period last year.

Earnings Misses

AutoNation Q3 2024 Adj EPS $4.02 Misses $4.38 Estimate, Sales $6.59B Miss $6.71B Estimate

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled mixed on Thursday, with the S&amp;P 500 recording its first positive session in a week.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was the top-performing stock in the index. Shares of the company jumped around 22% on Thursday after reporting stronger-than-expected third-quarter earnings. International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) shares fell 6.2% following a third-quarter revenue miss.
On the economic data front, U.S. initial jobless claims declined by 15,000 from the prior week to 227,000 during the period ending Oct. 19, compared to market estimates of 242,000. The S&amp;P Global flash manufacturing PMI rose to 47.8 in October versus a 15-month low level of 47.3 in September, while services PMI increased to 55.3 in October from 55.2 in the prior month.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, industrials, and utilities stocks recording the biggest losses on Thursday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 141 points to 42,374.36 on Thursday. The S&amp;P 500 rose 0.21% to 5,809.86, while the Nasdaq Composite climbed 0.76% to close at 18,415.49 during Thursday's session.
Investors are awaiting earnings results from AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), and HCA Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 63.4, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 62.3.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Photo courtesy: Shutterstock

S&P 500's 3-Day Losing Streak Ends Following Jump In Tesla Shares: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

With U.S. stock futures trading slightly higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) to report quarterly earnings at $4.38 per share on revenue of $6.71 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. AutoNation shares gained 0.4% to $163.81 in after-hours trading.</li>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) reported better-than-expected third-quarter results.&nbsp; The company reported quarterly earnings of $4.51 per share, which beat the analyst consensus estimate of $3.76. Quarterly revenue came in at $10.014 billion, which beat the analyst consensus estimate of $9.861 billion. Capital One Financial shares climbed 4.9% to $160.71 in the after-hours trading session.</li>
<li>Analysts are expecting Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) to post quarterly earnings at 89 cents per share on revenue of $5.00 billion. The company will release earnings before the markets open. Colgate-Palmolive shares gained 0.7% to $100.40 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) reported better-than-expected earnings for the third quarter, while sales missed estimates. Edwards Lifesciences shares fell 4.4% to $67.25 in the after-hours trading session.</li>
<li>Analysts expect HCA Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) to report quarterly earnings at $4.96 per share on revenue of $17.54 billion before the opening bell. HCA Healthcare shares fell 1% to $395.00 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41516113/how-to-earn-500-a-month-from-weyerhaeuser-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Weyerhaeuser Stock Ahead Of Q3 Earnings</a></li>
</ul>
Photo courtesy: AutoNation

AutoNation, Capital One Financial And 3 Stocks To Watch Heading Into Friday

AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) will release its quarterly earnings report on Friday, 2024-10-25. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate AutoNation to report an earnings per share (EPS) of $4.57.
The market awaits AutoNation's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Earnings History Snapshot</h3>
Last quarter the company missed EPS by $0.35, which was followed by a 3.55% drop in the share price the next day.
Here's a look at AutoNation's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>4.34</td>
<td>4.27</td>
<td>4.94</td>
<td>5.49</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3.99</td>
<td>4.49</td>
<td>5.02</td>
<td>5.54</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-4.0%</td>
<td>6.0%</td>
<td>-2.0%</td>
<td>0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729778443_0.png" alt="eps graph" />
<h3>AutoNation Share Price Analysis</h3>
Shares of AutoNation were trading at $162.0 as of October 23. Over the last 52-week period, shares are up 24.21%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Opinions on AutoNation</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on AutoNation.
A total of 7 analyst ratings have been received for AutoNation, with the consensus rating being Neutral. The average one-year price target stands at $191.86, suggesting a potential 18.43% upside.
<h3>Analyzing Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Valvoline, Group 1 Automotive and Asbury Automotive Gr, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>The consensus among analysts is an Outperform trajectory for Valvoline, with an average 1-year price target of $47.75, indicating a potential 70.52% downside.</li>
<li>As per analysts' assessments, Group 1 Automotive is favoring an Outperform trajectory, with an average 1-year price target of $377.8, suggesting a potential 133.21% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for Asbury Automotive Gr, with an average 1-year price target of $243.2, indicating a potential 50.12% upside.</li>
</ul>
<h3>Analysis Summary for Peers</h3>
The peer analysis summary presents essential metrics for Valvoline, Group 1 Automotive and Asbury Automotive Gr, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>AutoNation</td>
<td>Neutral</td>
<td>-5.95%</td>
<td>$1.16B</td>
<td>5.73%</td>
</tr>
<tr>
<td>Valvoline</td>
<td>Outperform</td>
<td>12.01%</td>
<td>$167.50M</td>
<td>55.10%</td>
</tr>
<tr>
<td>Group 1 Automotive</td>
<td>Outperform</td>
<td>3.02%</td>
<td>$766.50M</td>
<td>4.90%</td>
</tr>
<tr>
<td>Asbury Automotive Gr</td>
<td>Neutral</td>
<td>13.46%</td>
<td>$730.70M</td>
<td>0.84%</td>
</tr>
</tbody>
</table>

Key Takeaway:
AutoNation ranks at the bottom for Revenue Growth among its peers. It is in the middle for Gross Profit. AutoNation is at the bottom for Return on Equity.
<h3>Discovering AutoNation: A Closer Look</h3>
AutoNation is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers. The firm also has 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 21 states primarily in Sunbelt metropolitan areas. New-vehicle sales account for nearly half of revenue; the company also sells used vehicles, parts, and repair services as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000. Wayne Huizenga founded the company in the 1990s to bring the rollup acquisition strategy to auto retailing, which has proved to be a smart move.
<h3>Financial Milestones: AutoNation's Journey</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Challenges: AutoNation's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -5.95%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: AutoNation's net margin is impressive, surpassing industry averages. With a net margin of 2.01%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): AutoNation's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.73% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): AutoNation's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.05% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: AutoNation's debt-to-equity ratio is below the industry average. With a ratio of 4.05, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/AN/earnings">To track all earnings releases for AutoNation visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: AutoNation's Earnings Preview

Wells Fargo analyst Colin Langan maintains AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) with a Equal-Weight and lowers the price target from $187 to $181.

Wells Fargo Maintains Equal-Weight on AutoNation, Lowers Price Target to $181

In the last three months, 7 analysts have published ratings on AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), offering a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $197.43, with a high estimate of $220.00 and a low estimate of $160.00. Marking an increase of 12.39%, the current average surpasses the previous average price target of $175.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1728932449_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive AutoNation. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Murphy</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$215.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Adam Jonas</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$200.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Overweight</td>
<td>$210.00</td>
<td>-</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$190.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$160.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Colin Langan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$187.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>John Murphy</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$220.00</td>
<td>$210.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to AutoNation. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of AutoNation compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for AutoNation's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of AutoNation's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/AN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on AutoNation analyst ratings.</a>
<h2>All You Need to Know About AutoNation</h2>
AutoNation is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers. The firm also has 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 21 states primarily in Sunbelt metropolitan areas. New-vehicle sales account for nearly half of revenue; the company also sells used vehicles, parts, and repair services as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000. Wayne Huizenga founded the company in the 1990s to bring the rollup acquisition strategy to auto retailing, which has proved to be a smart move.
<h3>A Deep Dive into AutoNation's Financials</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: AutoNation's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -5.95%. This indicates a decrease in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: AutoNation's net margin excels beyond industry benchmarks, reaching 2.01%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): AutoNation's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.73%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): AutoNation's ROA stands out, surpassing industry averages. With an impressive ROA of 1.05%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 4.05.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 7 Analysts Discuss AutoNation Stock

B of A Securities analyst John Murphy maintains AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) with a Buy and lowers the price target from $220 to $215.

B of A Securities Maintains Buy on AutoNation, Lowers Price Target to $215

Analysts at Morgan Stanley sparked a shakeup across auto stocks Wednesday as the firm moved to the sidelines on automakers and turned more positive on <a href="https://www.benzinga.com/money/best-auto-parts-stocks">dealers and parts companies</a>.
What Happened: Morgan Stanley analyst Adam Jonas downgraded Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) on Wednesday as he cut his overall U.S. auto industry outlook from Attractive to In Line.
Jonas&#8217; more sour view of the auto industry landscape is being driven by a combination of factors he believes may not be fully understood by the market, including climbing inventories, vehicle affordability challenges, rising credit losses and delinquencies and growth slowdowns in China.
&#8220;In addition, our previous attractive industry view was supported by our expectation of significant strategic changes such as lower capex and potential consolidation (M&amp;A/partnership) to improve capital efficiency. While there has been some modicum of progress, it has failed to meet our expectations,&#8221; the Morgan Stanley analyst said in a new note to clients.
Jonas also noted Morgan Stanley had been optimistic about automakers getting a boost for being AI enablers, but that concerns about the significant capital requirements for AI development now counter thesis.
Finally, investors are looking for an opportunity in the market driven by the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/41008403/consumer-confidence-tumbles-as-concerns-over-labor-market-grow-odds-rise-for-50-b">Federal Reserve&#8217;s rate-cutting cycle</a>, but although rate cuts can provide &#8220;temporary&#8221; relief for automakers, cuts are not likely to drive material outperformance, Jonas said.
The Morgan Stanley analyst highlighted data showing that although U.S. auto stocks have modestly outperformed on average in the six months following a rate cut, they have historically underperformed over the subsequent six-month period.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">Mortgage Demand Soars As Fed Interest Rate Cut Fuels Housing Market Revival: &#8216;Next Spring Could See A Real Rebound&#8217;</a>
Ford Downgrade: Morgan Stanley downgraded Ford from Overweight to Equal-Weight and lowered the price target from $16 to $12.
Jonas expects Ford to suffer greater market share losses through the end of the decade. The analyst also anticipates pricing headwinds and regulatory compliance risk, which could hurt profitability. Jonas lowered his normalized earnings expectations by 15.1%. 
Morgan Stanley has a bull case price target of $19 on Ford stock and a bear case price target of $6.
GM Downgrade: Morgan Stanley downgraded GM from <a href="https://www.benzinga.com/analyst-stock-ratings">Equal-Weight to Underweight</a> and lowered the price target from&nbsp;$47&nbsp;to&nbsp;$42.
Jonas sees a lot of the same headwinds in front of GM. He specifically pointed to <a href="https://www.benzinga.com/news/24/09/40981404/us-proposes-ban-on-vehicles-equipped-with-chinese-software-as-team-biden-cracks-down-on-foreign-adve">China concerns</a> as one of the main drivers of the downgrade. GM has significant exposure to the Chinese automakers through its joint ventures, the analyst said.
&#8220;In addition, we believe investors may not appreciate the potentially adverse impact that excess capacity in China has on other highly profitable regions in the global auto market,&#8221; Jonas said.
Morgan Stanley lowered its normalized earnings estimates for GM by 16.4% but left its bull case price target of $62 and bear case price target of $28 unchanged.
Rivian Downgrade: Morgan Stanley downgraded Rivian from Overweight to Equal-Weight and lowered the price target from $16 to $13.
&#8220;The downgrade reflects our incorporation of the capital intensity of AV/ADAS which may be required to fulfill the technological underpinnings that attracted Volkswagen as a JV partner,&#8221; Jonas said. 
The Morgan Stanley analyst increased his annual capex estimates by $200 to $300 million per year beginning in 2026 as he waits for management to announce details around its joint venture cost structure. 
Morgan Stanley&#8217;s new price target of $13 consists of $10 per share in value for the automotive business and $3 per share in value for Rivian&#8217;s software and services business. The firm has a bull case price target of $29 and a bear case target of $6.
Related Link: <a href="https://www.benzinga.com/news/24/09/40985825/tesla-and-chinese-ev-startups-outpace-toyota-volkswagen-in-critical-software-race-report">Tesla And Chinese EV Startups Outpace Toyota, Volkswagen In Critical Software Race: Report</a>
Why It Matters: On the flip side, Morgan Stanley upgraded franchise dealers as the firm believes we are in the later innings of mean reversion in the franchise dealer model relative to legacy automakers who are just now going through peak earnings and are battling increased headwinds. 
&#8220;We believe that our latent concerns about the franchise dealer business model (secular DTC bear case, mean reversion thesis) have proven largely mitigated and see greater risk in other pockets of our U.S. autos coverage,&#8221; Jonas said.
Franchise dealers have proven to be pretty resilient by managing costs and focusing more on parts and services profits. Given the slower-than-expected <a href="http://benzinga.com/topic/evs">EV</a> adoption pace, these companies stand to benefit from a longer internal combustion engine parts tail and strength in hybrids, the analyst said.
Furthermore, many of the franchise dealers are more geared toward the higher-end consumer, which helps insulate the companies from a broader deterioration in auto credit relative to other areas of Morgan Stanley&#8217;s coverage.
<ul>
<li>Morgan Stanley upgraded Group 1 Automotive Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) from Equal Weight to Overweight and raised the price target to $430.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Penske Automotive Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAG#NYSE">PAG</a>) from Underweight to Overweight and raised the price target from $115 to $180.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) from Equal-Weight to Overweight and raised the price target from $145 to $200.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Asbury Automotive Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABG#NYSE">ABG</a>) from Underweight to Equal-Weight and raised the price target from $190 to $240.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) from Underweight to Equal-Weight and raised the price target from $225 to $310.</li>
</ul>
<ul>
<li>Morgan Stanley upgraded Sonic Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAH#NYSE">SAH</a>) from Underweight to Equal-Weight and raised the price target from $40 to $58.</li>
</ul>
F, GM, RIVN Price Action: At publication time, Ford shares were down 4.46% at $10.39, GM shares were down 5.51% at $45.42 and Rivian shares were down 6.42% at $11.10, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40973189/teslas-chinese-rival-byd-plans-to-assemble-evs-in-pakistan-after-india-said-no-we-have-big-ambit">Tesla&#8217;s Chinese Rival BYD Plans To Assemble EVs In Pakistan After India Said No: &#8216;We Have Big Ambitions&#8217;</a></li>
</ul>
Photo: Shutterstock.

Analyst Color

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Downgrades

RIVN

Analyst Ditches Automakers For Auto Dealers, Parts Companies

Morgan Stanley analyst Adam Jonas upgrades AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) from Equal-Weight to Overweight and raises the price target from $145 to $200.

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