Benchmark Maintains Buy Rating for AutoNation: Here's What You Need To Know

Benchmark has decided to maintain its Buy rating of AutoNation AN and raise its price target from $185.00 to $200.00.

Shares of AutoNation are trading up 0.84% over the last 24 hours, at $165.99 per share.

A move to $200.00 would account for a 20.49% increase from the current share price.

About AutoNation

AutoNation is the second largest automotive dealer in the United States, with 2022 revenue of $27 billion and about 250 dealerships, plus 55 collision centers. The firm also has 13 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 19 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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This article was generated by Benzinga's automated content engine and reviewed by an editor.