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

AutoNation (NYSE:AN) had its target price raised by equities research analysts at Guggenheim from $165.00 to $169.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 10.27% from the company’s current price.

Several other equities research analysts have also commented on AN. Morgan Stanley upgraded shares of AutoNation from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, February 29th. Bank of America dropped their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company upped 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. Evercore ISI initiated coverage on shares of AutoNation in a research report on Wednesday, January 17th. They set an “outperform” rating and a $185.00 target price for the company. Finally, StockNews.com downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, AutoNation currently has an average rating of “Moderate Buy” and an average target price of $173.00.

AutoNation Price Performance

AN traded down $1.34 during midday trading on Wednesday, hitting $153.26. 484,608 shares of the company traded hands, compared to its average volume of 438,070. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 1.22 and a beta of 1.24. AutoNation has a 52-week low of $123.81 and a 52-week high of $182.08. The business has a 50 day simple moving average of $152.55 and a two-hundred day simple moving average of $143.92.

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

Insider Activity at AutoNation

In other news, major shareholder Edward S. Lampert sold 10,804 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.56, for a total transaction of $1,669,866.24. Following the completion of the sale, the insider now owns 4,267,860 shares in the company, valued at $659,640,441.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other AutoNation news, major shareholder Edward S. Lampert sold 380,497 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $143.12, for a total value of $54,456,730.64. Following the completion of the transaction, the insider now directly owns 4,278,664 shares in the company, valued at $612,362,391.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward S. Lampert sold 10,804 shares of AutoNation stock in a transaction on Monday, February 12th. The shares were sold at an average price of $154.56, for a total value of $1,669,866.24. Following the completion of the transaction, the insider now directly owns 4,267,860 shares of the company’s stock, valued at $659,640,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 501,776 shares of company stock valued at $73,818,692 in the last 90 days. 0.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AutoNation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in AutoNation by 4.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,695 shares of the company’s stock worth $6,767,000 after acquiring an additional 1,983 shares during the last quarter. Mirabella Financial Services LLP bought a new stake in shares of AutoNation in the 3rd quarter valued at about $919,000. Teachers Retirement System of The State of Kentucky grew its position in shares of AutoNation by 69.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 11,569 shares of the company’s stock valued at $1,752,000 after buying an additional 4,748 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of AutoNation in the 3rd quarter valued at about $1,525,000. Finally, Dorsey Wright & Associates bought a new stake in shares of AutoNation in the 3rd quarter valued at about $1,329,000. 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.