AutoNation (NYSE:AN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

AutoNation (NYSE:AN) had its price objective upped by analysts at Wells Fargo & Company from $169.00 to $170.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 7.06% from the stock’s current price.

Several other equities analysts have also recently issued reports on AN. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $145.00 to $200.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Bank of America reduced their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Guggenheim lowered their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.71.

AutoNation Stock Up 0.3 %

AutoNation stock opened at $182.90 on Wednesday. The stock has a 50 day moving average of $172.90 and a two-hundred day moving average of $170.69. AutoNation has a twelve month low of $135.55 and a twelve month high of $197.18. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 3.28 and a beta of 1.26. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of AutoNation by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,605,708 shares of the company’s stock worth $255,910,000 after acquiring an additional 41,712 shares during the period. State Street Corp grew its holdings in AutoNation by 2.3% in the third quarter. State Street Corp now owns 854,034 shares of the company’s stock valued at $152,804,000 after purchasing an additional 19,037 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AutoNation by 4.5% in the third quarter. Geode Capital Management LLC now owns 433,730 shares of the company’s stock valued at $77,623,000 after buying an additional 18,588 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AutoNation by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,888 shares of the company’s stock worth $57,413,000 after buying an additional 19,015 shares during the last quarter. Finally, Simcoe Capital Management LLC purchased a new stake in shares of AutoNation in the 3rd quarter worth about $42,255,000. 94.62% of the stock is 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.