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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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Ratings for AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $184.75, a high estimate of $200.00, and a low estimate of $170.00. This upward trend is evident, with the current average reflecting a 1.37% increase from the previous average price target of $182.25.
<img src="https://www.benzinga.com/files/images/story/2025/1736971228_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</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>Colin Langan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$170.00</td>
<td>$169.00</td>
</tr>
<tr>
<td>Glenn Chin</td>
<td>Seaport Global</td>
<td>Raises</td>
<td>Buy</td>
<td>$200.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Ali Faghri</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$189.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$180.00</td>
<td>$190.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to AutoNation. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of AutoNation compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of AutoNation's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into AutoNation's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic 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>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>AutoNation: A Financial Overview</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Negative Revenue Trend: Examining AutoNation's financials over 3 months reveals challenges. As of 30 September, 2024, the company experienced a decline of approximately -4.45% in revenue growth, reflecting 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 2.82%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): AutoNation's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 8.16%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): AutoNation's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.44% 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 3.69, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Forecasting The Future: 4 Analyst Projections For AutoNation

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 raises the price target from $169 to $170.

Price Target

Wells Fargo Maintains Equal-Weight on AutoNation, Raises Price Target to $170

Bank of America has identified three key auto stocks it expects to outperform in 2025: Ferrari PLC (RACE), Aptiv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) and AutoNation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>). The firm notes that these companies are well-positioned to benefit from ongoing <a href="https://www.benzinga.com/news/contracts/25/01/42879460/honda-amazon-collaborate-on-ev-development-with-generative-ai-and-iot">trends in the automotive industry</a>, despite recent volatility and sector-specific challenges.
Ferrari (RACE): Resilient Luxury and Brand Power
Ferrari&#8217;s shares increased by 26% in 2024, climbing from $338 at the end of 2023 to $425 by the close of 2024. Bank of America analysts maintain a &#8220;Buy&#8221; rating on Ferrari, emphasizing its positioning as a luxury automaker with significant brand value. The company&#8217;s strategy of balancing restrained production growth, price increases and new model rollouts is expected to sustain consistent revenue and earnings growth.
The launch of the F80 in late 2025 and the HyperCar in late 2026 are anticipated to enhance Ferrari&#8217;s product mix, alongside improvements in its racing performance. The firm highlights Ferrari&#8217;s ability to differentiate its vehicles and maintain operational efficiency, noting that its financial outlook remains conservative. Analysts believe Ferrari&#8217;s earnings resilience in uncertain macroeconomic conditions is a key strength that will drive its stock performance in the coming year.
Aptiv (APTV): Positioned for a Rebound Aptiv saw its stock price fall 33%, from $90 at the end of 2023 to $60 by the end of 2024. Despite this drop, Bank of America analysts see a recovery opportunity and maintain a &#8220;Buy&#8221; rating on the stock. The decline was primarily driven by a slowdown in EV sales, increased competition from Chinese automakers, and reduced production volumes among key customers.
However, analysts at BofA argue that these headwinds are temporary. The company&#8217;s expertise in vehicle architecture and connectivity aligns with automakers&#8217; efforts to simplify manufacturing processes. Bank of America expects Aptiv's growth rate to reaccelerate between 2026 and 2027, leading to stronger earnings and valuation recovery.
AutoNation (AN): Capitalizing on Industry Momentum AutoNation&#8217;s stock gained 13% in 2024, rising from $150 to $170. Bank of America analysts view the company favorably, citing its structural improvements since the pandemic and its ability to generate strong free cash flow. This financial strength enables AutoNation to reinvest in business initiatives, buy back shares and benefit from the ongoing recovery in U.S. new vehicle sales.
The analysts expect that new vehicle gross profit per unit will stabilize at elevated levels by the end of 2025 or 2026, supporting AutoNation&#8217;s earnings momentum. Furthermore, the company's SG&amp;A leverage is expected to remain strong. Despite these positives, AutoNation is trading at a discount compared to its historical average and its peers, with a next-12-month price-to-earnings ratio of approximately 9.2x versus a historical average of 13x. Analysts believe this undervaluation provides a compelling investment case.
Sector-Wide Insights: Bank of America notes that vehicle payments as a percentage of disposable income are within affordable levels, while both new and used vehicle prices have stabilized. The constrained supply of late-model used vehicles should further support pricing. Analysts also highlight the necessity for consolidation within the automotive industry, given challenges like overcapacity and the transition to electric and autonomous vehicles.
The firm predicts that autonomous vehicle progress will drive the need for federal regulatory frameworks to streamline development and deployment. This regulatory clarity could help foster broader adoption of the technology.
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Image via Flickr.

Movers

APTV

RACE

TSLA

Bank of America Highlights Ferrari, Aptiv and AutoNation as Top Auto Stocks for 2025

Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) has been a rollercoaster for investors, with a jaw-dropping 327% rally over the past year overshadowed by a 21.97% dip in <a href="https://www.benzinga.com/quote/CVNA/news">the last month</a>. 
But behind the flashy headlines is a stock chart showing signs of fatigue.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010325&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="492" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM.png" alt="" class="wp-image-716735" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM-300x235.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010325&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<h2 class="wp-block-heading">Carvana Stock Chart: All Signals Point South</h2>
Carvana&#8217;s stock has dropped below key simple moving averages (Eight, 20 and 50-day), a textbook sign of a bearish trend. Adding to the challenges:
<ul>
<li>The stock&#8217;s price of $199.56 is far below its eight-day SMA of $212.33, signaling bearish short-term momentum.</li>
<li>The gap widens with the 20-day SMA at $231.15 and the 50-day SMA at $235.49, adding further technical pressure.</li>
<li>While the 200-day SMA at $154.62 suggests a bullish longer-term outlook, it offers little solace to short-term traders facing the current downturn.</li>
</ul>
With a MACD of negative 10.08 and an RSI of 28.03, Carvana&#8217;s stock is officially in oversold territory. But oversold doesn't always mean a bargain—sometimes it's just a sign of more trouble ahead.
Read Also: <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/01/42768576/top-2-tech-and-telecom-stocks-that-are-ticking-portfolio-bombs-2">Top 2 Tech And Telecom Stocks That Are Ticking Portfolio Bombs</a>
<h2 class="wp-block-heading">Hindenburg Hits The Brakes</h2>
SShort-seller Hindenburg Research's critical report intensifies bearish sentiment, describing <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42769626/hindenburg-shorts-carvana-stock-claims-used-car-retailers-turnaround-is-a-mirage">Carvana's turnaround a "mirage."</a> Accusations of "accounting manipulation" and "lax underwriting" may not be new, but the timing is impeccable. After all, Carvana has been trading at lofty valuations:
<ul>
<li>Forward P/E of 101—a staggering premium to rivals like CarMax Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) and AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>).</li>
<li>Sales multiples 845% higher than its peers.</li>
</ul>
Hindenburg even claims the company is inflating its valuation through $800 million in loan sales to a &#8220;suspected undisclosed related party&#8221; and cites insider selling as further evidence of an overheated stock.
Carvana, however, dismissed Hindenburg&#8217;s report as &#8220;misleading and inaccurate,&#8221; reiterating confidence in its 2025 growth plan, as they responded to Benzinga.
<h2 class="wp-block-heading">What Does This Mean For Investors?</h2>
Despite the short report, Carvana shares showed resilience, bouncing back by over 3% on Thursday after a brief dip. But the bigger question is: can the stock sustain its gains, or is this a dead-cat bounce?
With strong selling pressure and a technical setup favoring bears, investors should tread carefully. While oversold conditions can tempt bottom-fishers, the ongoing bearish signals and fundamental concerns from Hindenburg's report suggest Carvana might be stuck in reverse for now.
For those still holding CVNA, it might be time to brace for turbulence as challenges may lie ahead.
Read Also: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42713893/benzinga-bulls-and-bears-quantum-computing-tesla-amd-and-whales-buy-270-million-dogecoin-over-4-days">Benzinga Bulls And Bears: Quantum Computing, Tesla, AMD — And Whales Buy 270 Million Dogecoin Over 4 Days</a></li>
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Photo: Shutterstock

Carvana Chart Weakens As Momentum Indicators Turn Bearish, Short Report Hits

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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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>
Read This Next:<a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42313903/top-3-tech-and-telecom-stocks-that-may-implode-this-quarter"> </a>
<ul>
<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>
</ul>

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.

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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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/42119232/ross-stores-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Ross Stores Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>

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.
Check This Out: <a href="https://www.benzinga.com/news/24/10/41545103/wall-streets-most-accurate-analysts-give-their-take-on-3-real-estate-stocks-delivering-high-dividend">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Real Estate Stocks Delivering High-Dividend Yields</a>
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>
Now Read This:
<ul>
<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41543029/top-3-materials-stocks-that-may-explode-in-october">Top 3 Materials Stocks That May Explode In October</a></li>
</ul>

Equities

Eurozone

Commodities

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.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/24/10/41527960/amazon-vs-walmart-e-commerce-giant-offers-gas-savings-to-prime-members-ev-charging-discounts-in-lat" target="_blank" rel="noreferrer noopener">Amazon Vs. Walmart: E-Commerce Giant Offers Gas Savings To Prime Members, EV Charging Discounts In Latest Battle For Subscribers</a></li>
</ul>

Earnings

Guidance

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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<li><a href="https://www.benzinga.com/markets/equities/24/10/41539590/tesla-shares-slip-in-pre-market-a-day-after-massive-22-rally-whats-going-on">Tesla Shares Slip In Pre-Market A Day After Massive 22% Rally: What&#8217;s Going On?</a></li>
</ul>
Photo courtesy: Shutterstock

Futures

Previews

Economics

Federal Reserve

SAVE

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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