AutoNation (NYSE:AN) Given New $202.00 Price Target at Wells Fargo & Company

AutoNation (NYSE:AN) had its target price decreased by research analysts at Wells Fargo & Company from $208.00 to $202.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.40% from the stock’s previous close.

Several other brokerages have also issued reports on AN. Weiss Ratings raised shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $240.00 price objective on shares of AutoNation in a report on Thursday, May 7th. Barclays upped their target price on shares of AutoNation from $240.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. UBS Group began coverage on shares of AutoNation in a research report on Wednesday, May 27th. They issued a “buy” rating and a $234.00 price target for the company. Finally, Citigroup raised their price target on shares of AutoNation from $269.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $246.30.

AutoNation Price Performance

Shares of NYSE:AN opened at $186.34 on Monday. The firm has a market capitalization of $6.23 billion, a PE ratio of 10.09, a PEG ratio of 0.99 and a beta of 0.75. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62. AutoNation has a 1-year low of $176.62 and a 1-year high of $228.92. The business’s 50 day moving average is $192.85 and its 200-day moving average is $199.27.

AutoNation (NYSE:AN) last issued its earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.68 earnings per share. Sell-side analysts predict that AutoNation will post 21.24 earnings per share for the current year.

Insider Activity

In other news, CAO Kimberly Dees sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total value of $512,275.00. Following the sale, the chief accounting officer owned 1,456 shares in the company, valued at approximately $298,348.96. The trade was a 63.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On AutoNation

Institutional investors have recently added to or reduced their stakes in the company. Simcoe Capital Management LLC bought a new stake in AutoNation during the third quarter worth about $18,988,000. Emmett Investment Management LP bought a new position in shares of AutoNation in the third quarter valued at approximately $3,496,000. 44 Wealth Management LLC bought a new position in shares of AutoNation in the third quarter valued at approximately $1,378,000. Holocene Advisors LP boosted its holdings in shares of AutoNation by 38.3% in the 3rd quarter. Holocene Advisors LP now owns 548,677 shares of the company’s stock worth $120,034,000 after acquiring an additional 151,966 shares in the last quarter. Finally, Grove Bank & Trust acquired a new position in shares of AutoNation in the 4th quarter worth approximately $4,130,000. 94.62% of the stock is owned by institutional investors.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.