Guggenheim Has Lowered Expectations for AutoNation (NYSE:AN) Stock Price

AutoNation (NYSE:AN) had its target price decreased by equities researchers at Guggenheim from $190.00 to $189.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 9.62% from the company’s current price.

AN has been the subject of several other research reports. Wells Fargo & Company decreased their target price on AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Stephens started coverage on AutoNation in a research note on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Bank of America reduced their price objective on AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $200.00 in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.

AutoNation Trading Up 1.4 %

NYSE AN opened at $172.41 on Thursday. The business has a 50 day simple moving average of $167.28 and a 200 day simple moving average of $168.34. AutoNation has a one year low of $130.35 and a one year high of $197.18. The stock has a market capitalization of $6.84 billion, a P/E ratio of 9.93, a P/E/G ratio of 3.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.80 and a quick ratio of 0.20.

Insider Activity

In other news, major shareholder Edward S. Lampert sold 39,194 shares of AutoNation stock in a transaction on Monday, August 26th. The stock was sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the sale, the insider now directly owns 3,786,144 shares in the company, valued at $694,492,393.92. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in AutoNation by 90.6% in the second quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 96 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of AutoNation in the second quarter valued at approximately $37,000. Venturi Wealth Management LLC lifted its stake in shares of AutoNation by 403.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock valued at $50,000 after buying an additional 226 shares in the last quarter. Quarry LP boosted its stake in AutoNation by 498.5% in the 2nd quarter. Quarry LP now owns 407 shares of the company’s stock worth $65,000 after purchasing an additional 339 shares during the period. Finally, Mather Group LLC. purchased a new position in AutoNation during the second quarter valued at approximately $103,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

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.