Guggenheim Boosts AutoNation (NYSE:AN) Price Target to $169.00

AutoNation (NYSE:AN) had its price objective raised by Guggenheim from $165.00 to $169.00 in a research note published on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other research analysts have also issued reports on AN. Morgan Stanley upgraded shares of AutoNation from an underweight rating to an equal weight rating and raised their price target for the stock from $117.00 to $140.00 in a report on Thursday, February 29th. Bank of America lowered their price target on shares of AutoNation from $220.00 to $215.00 and set a buy rating for the company in a report on Wednesday, April 10th. Evercore ISI started coverage on shares of AutoNation in a research note on Wednesday, January 17th. They issued an outperform rating and a $185.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of AutoNation from $144.00 to $150.00 and gave the company an equal weight rating in a research note on Wednesday, February 14th. Finally, StockNews.com lowered shares of AutoNation from a buy rating to a hold rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, AutoNation presently has a consensus rating of Moderate Buy and an average price target of $173.00.

AutoNation Stock Down 0.3 %

Shares of NYSE AN opened at $154.19 on Wednesday. The company has a 50 day simple moving average of $152.90 and a 200 day simple moving average of $144.11. The firm has a market cap of $6.43 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 1.22 and a beta of 1.24. AutoNation has a 1 year low of $123.81 and a 1 year high of $182.08. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.77 and a quick ratio of 0.23.

AutoNation (NYSE:AN) last released its quarterly earnings results on Tuesday, February 13th. The company reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.17. AutoNation had a net margin of 3.79% and a return on equity of 48.76%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the business earned $6.37 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that AutoNation will post 18.95 EPS for the current year.

Insider Activity

In related news, major shareholder Edward S. Lampert sold 380,497 shares of AutoNation stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $143.12, for a total value of $54,456,730.64. Following the completion of the sale, the insider now owns 4,278,664 shares of the company’s stock, valued at approximately $612,362,391.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Kimberly Dees sold 3,133 shares of AutoNation stock in a transaction on Monday, March 4th. The shares were sold at an average price of $152.28, for a total value of $477,093.24. Following the completion of the sale, the chief accounting officer now owns 464 shares of the company’s stock, valued at approximately $70,657.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Edward S. Lampert sold 380,497 shares of AutoNation stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $143.12, for a total transaction of $54,456,730.64. Following the transaction, the insider now directly owns 4,278,664 shares in the company, valued at $612,362,391.68. The disclosure for this sale can be found here. Insiders sold 501,776 shares of company stock worth $73,818,692 in the last quarter. 0.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AutoNation

Hedge funds have recently bought and sold shares of the company. Point72 Europe London LLP purchased a new position in AutoNation during the 4th quarter worth $25,000. First United Bank & Trust purchased a new position in AutoNation during the 4th quarter worth $26,000. Private Wealth Management Group LLC purchased a new position in AutoNation during the 4th quarter worth $27,000. Anchor Investment Management LLC purchased a new position in AutoNation during the 4th quarter worth $28,000. Finally, Riverview Trust Co purchased a new position in shares of AutoNation in the 1st quarter worth about $33,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.