Stephens Downgrades AutoNation (NYSE:AN) to Equal Weight

AutoNation (NYSE:AN) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $192.00 price target on the stock, down from their previous price target of $200.00. Stephens’ target price would suggest a potential upside of 5.11% from the company’s current price.

AN has been the topic of a number of other research reports. Bank of America decreased their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company raised their price target on AutoNation from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. 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. Finally, Guggenheim decreased 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. Four research 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 has a consensus rating of “Moderate Buy” and an average price target of $195.14.

AutoNation Stock Down 1.4 %

AN stock opened at $182.67 on Friday. AutoNation has a twelve month low of $136.35 and a twelve month high of $197.18. The firm has a market capitalization of $7.24 billion, a PE ratio of 10.53, a PEG ratio of 3.50 and a beta of 1.26. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58. The stock has a 50-day simple moving average of $175.10 and a two-hundred day simple moving average of $171.83.

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. Simcoe Capital Management LLC purchased a new position in shares of AutoNation during the 3rd quarter worth approximately $42,255,000. Holocene Advisors LP purchased a new position in AutoNation during the 3rd quarter valued at about $20,046,000. Verition Fund Management LLC lifted its position in AutoNation by 739.9% during the 3rd quarter. Verition Fund Management LLC now owns 109,040 shares of the company’s stock valued at $19,509,000 after acquiring an additional 96,058 shares during the period. Assenagon Asset Management S.A. bought a new stake in AutoNation during the fourth quarter worth about $13,239,000. Finally, International Assets Investment Management LLC purchased a new stake in AutoNation in the third quarter worth about $131,250,000. Institutional investors own 94.62% of the company’s stock.

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.