Wells Fargo & Company Cuts AutoNation (NYSE:AN) Price Target to $176.00

AutoNation (NYSE:AN) had its price target cut by stock analysts at Wells Fargo & Company from $194.00 to $176.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.98% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price target on AutoNation from $195.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. StockNews.com cut AutoNation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Guggenheim reaffirmed a “buy” rating on shares of AutoNation in a research note on Wednesday, February 12th. Stephens upped their target price on shares of AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI lifted their price target on shares of AutoNation from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, AutoNation presently has an average rating of “Moderate Buy” and an average target price of $199.29.

AutoNation Price Performance

Shares of AutoNation stock traded down $2.79 during midday trading on Monday, hitting $162.99. 28,022 shares of the company were exchanged, compared to its average volume of 455,020. The firm has a 50 day simple moving average of $171.36 and a 200-day simple moving average of $172.65. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.74 and a quick ratio of 0.21. The firm has a market cap of $6.40 billion, a P/E ratio of 9.62, a PEG ratio of 3.51 and a beta of 1.15. AutoNation has a 52 week low of $148.33 and a 52 week high of $198.50.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $4.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $0.71. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. Research analysts forecast that AutoNation will post 18.15 earnings per share for the current year.

Institutional Trading of AutoNation

Hedge funds have recently added to or reduced their stakes in the business. Brave Warrior Advisors LLC lifted its holdings in shares of AutoNation by 50.3% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,461,213 shares of the company’s stock valued at $248,172,000 after purchasing an additional 488,904 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of AutoNation by 422.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 575,000 shares of the company’s stock worth $97,658,000 after acquiring an additional 465,000 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in AutoNation by 63.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,104,934 shares of the company’s stock valued at $187,662,000 after acquiring an additional 426,882 shares in the last quarter. Cartenna Capital LP acquired a new stake in shares of AutoNation in the 4th quarter valued at about $56,831,000. Finally, Norges Bank acquired a new position in shares of AutoNation during the fourth quarter worth about $38,136,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

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.