AutoNation (NYSE:AN) Price Target Raised to $187.00 at Wells Fargo & Company

AutoNation (NYSE:AN) had its price objective boosted by Wells Fargo & Company from $164.00 to $187.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently weighed in on AN. Evercore ISI lifted their target price on AutoNation from $200.00 to $220.00 and gave the company an outperform rating in a research report on Monday, June 10th. Guggenheim boosted their price objective on AutoNation from $169.00 to $187.00 and gave the company a buy rating in a research note on Friday, May 17th. Bank of America raised their target price on shares of AutoNation from $210.00 to $220.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of AutoNation from $142.00 to $155.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $187.00.

AutoNation Stock Performance

AutoNation stock traded down $12.57 during mid-day trading on Thursday, reaching $171.38. 143,759 shares of the stock traded hands, compared to its average volume of 432,486. AutoNation has a 12-month low of $123.81 and a 12-month high of $197.18. The business’s 50-day moving average is $167.98 and its 200-day moving average is $158.73. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23. The stock has a market capitalization of $6.90 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). AutoNation had a return on equity of 36.28% and a net margin of 2.93%. The business had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $6.72 billion. During the same period in the previous year, the business posted $6.29 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that AutoNation will post 17.96 EPS for the current fiscal year.

AutoNation announced that its Board of Directors has initiated a stock repurchase plan on Friday, April 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 14.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at AutoNation

In related news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $172.29, for a total value of $4,083,789.87. Following the completion of the sale, the insider now directly owns 3,980,467 shares in the company, valued at $685,794,659.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AutoNation news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $176.21, for a total value of $17,621,000.00. Following the transaction, the insider now owns 3,880,467 shares of the company’s stock, valued at approximately $683,777,090.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Edward S. Lampert sold 23,703 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the sale, the insider now directly owns 3,980,467 shares of the company’s stock, valued at $685,794,659.43. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Institutional Investors Weigh In On AutoNation

Several large investors have recently added to or reduced their stakes in AN. First United Bank & Trust purchased a new stake in shares of AutoNation in the 4th quarter worth $26,000. Private Wealth Management Group LLC purchased a new position in AutoNation during the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp bought a new position in AutoNation in the fourth quarter worth approximately $30,000. Avalon Trust Co purchased a new stake in AutoNation during the fourth quarter worth $32,000. Finally, GAMMA Investing LLC boosted its position in AutoNation by 90.6% during the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Company Profile

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.