AutoNation (NYSE:AN) Given New $169.00 Price Target at Guggenheim

AutoNation (NYSE:AN) had its price target hoisted by equities researchers at Guggenheim from $165.00 to $169.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 10.27% from the company’s previous close.

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

AutoNation Stock Down 0.9 %

Shares of NYSE AN traded down $1.34 during midday trading on Wednesday, reaching $153.26. 484,608 shares of the company’s stock traded hands, compared to its average volume of 438,070. The company has a quick ratio of 0.23, a current ratio of 0.77 and a debt-to-equity ratio of 1.53. The stock’s 50 day simple moving average is $152.55 and its 200-day simple moving average is $143.92. AutoNation has a one year low of $123.81 and a one year high of $182.08. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 6.77, a P/E/G ratio of 1.22 and a beta of 1.24.

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

Insider Activity

In related news, major shareholder Edward S. Lampert sold 380,497 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $143.12, for a total transaction of $54,456,730.64. Following the completion of the sale, the insider now directly owns 4,278,664 shares in the company, valued at $612,362,391.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AutoNation news, major shareholder Edward S. Lampert sold 380,497 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $143.12, for a total transaction of $54,456,730.64. Following the completion of the transaction, the insider now owns 4,278,664 shares of the company’s stock, valued at $612,362,391.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $161.26, for a total transaction of $16,126,000.00. Following the transaction, the insider now directly owns 4,167,270 shares of the company’s stock, valued at approximately $672,013,960.20. The disclosure for this sale can be found here. Insiders sold 501,776 shares of company stock worth $73,818,692 over the last three months. Insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Europe London LLP acquired a new stake in AutoNation during the fourth quarter worth approximately $25,000. First United Bank & Trust acquired a new position in shares of AutoNation in the 4th quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in shares of AutoNation in the 4th quarter valued at $27,000. Anchor Investment Management LLC acquired a new position in shares of AutoNation in the 4th quarter valued at $28,000. Finally, Jones Financial Companies Lllp acquired a new position in AutoNation in the 4th quarter valued at $30,000. Hedge funds and other institutional investors 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.