Wells Fargo & Company Forecasts Strong Price Appreciation for AutoNation (NYSE:AN) Stock

AutoNation (NYSE:AN) had its price target upped by Wells Fargo & Company from $170.00 to $194.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their price objective on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Guggenheim lowered their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Stephens boosted their price objective on AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

AutoNation Trading Down 1.7 %

Shares of AutoNation stock opened at $191.77 on Wednesday. AutoNation has a 52-week low of $136.35 and a 52-week high of $198.50. The stock’s 50-day simple moving average is $179.12 and its 200 day simple moving average is $173.37. The stock has a market capitalization of $7.60 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.71 and a beta of 1.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.20 and a current ratio of 0.80.

AutoNation (NYSE:AN) last posted its earnings results on Tuesday, February 11th. The company reported $4.97 earnings per share for the quarter, beating analysts’ consensus estimates of $4.26 by $0.71. AutoNation had a return on equity of 32.01% and a net margin of 2.74%. As a group, research analysts anticipate that AutoNation will post 16.74 EPS for the current year.

Hedge Funds Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama grew its stake in AutoNation by 142.2% in the third quarter. Retirement Systems of Alabama now owns 73,429 shares of the company’s stock worth $13,138,000 after purchasing an additional 43,113 shares during the period. Kestra Investment Management LLC purchased a new stake in AutoNation in the third quarter worth $585,000. Blue Trust Inc. grew its stake in AutoNation by 33.8% in the third quarter. Blue Trust Inc. now owns 1,899 shares of the company’s stock worth $340,000 after purchasing an additional 480 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AutoNation by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,888 shares of the company’s stock worth $57,413,000 after purchasing an additional 19,015 shares during the period. Finally, Whalen Wealth Management Inc. purchased a new stake in AutoNation in the fourth quarter worth $255,000. Institutional investors own 94.62% of the company’s stock.

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.