Wells Fargo & Company Boosts AutoNation (NYSE:AN) Price Target to $187.00

AutoNation (NYSE:AN) had its price target boosted by Wells Fargo & Company from $164.00 to $187.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

AN has been the subject of a number of other reports. Bank of America increased their target price on shares of AutoNation from $210.00 to $220.00 and gave the company a buy rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on AutoNation from $142.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Guggenheim boosted their target price on AutoNation from $169.00 to $187.00 and gave the stock a buy rating in a research report on Friday, May 17th. Finally, Evercore ISI upped their target price on AutoNation from $200.00 to $220.00 and gave the company an outperform rating in a report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $187.00.

AutoNation Stock Down 7.2 %

AutoNation stock opened at $170.74 on Thursday. The stock’s 50 day moving average price is $168.00 and its 200 day moving average price is $159.26. AutoNation has a 1-year low of $123.81 and a 1-year high of $197.18. The company has a market cap of $6.88 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 3.61 and a beta of 1.21. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23.

AutoNation (NYSE:AN) last issued its earnings results on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.31 by ($0.32). The company had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $6.72 billion. AutoNation had a return on equity of 36.28% and a net margin of 2.93%. AutoNation’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.29 earnings per share. On average, sell-side analysts predict that AutoNation will post 17.88 EPS for the current fiscal year.

AutoNation announced that its board has approved a share repurchase plan on Friday, April 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 14.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 100,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $176.21, for a total value of $17,621,000.00. Following the transaction, the insider now directly owns 3,880,467 shares in the company, valued at approximately $683,777,090.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AutoNation news, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $176.21, for a total value of $17,621,000.00. Following the completion of the transaction, the insider now directly owns 3,880,467 shares in the company, valued at approximately $683,777,090.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Edward S. Lampert sold 53,562 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total value of $10,361,568.90. Following the sale, the insider now owns 3,825,838 shares in the company, valued at approximately $740,108,361.10. The disclosure for this sale can be found here. Insiders have sold a total of 177,265 shares of company stock valued at $32,066,359 over the last quarter. Insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On AutoNation

A number of large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of AutoNation by 74.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,889 shares of the company’s stock worth $584,000 after purchasing an additional 1,659 shares during the period. Oak Thistle LLC acquired a new stake in shares of AutoNation in the fourth quarter worth $272,000. International Assets Investment Management LLC acquired a new stake in shares of AutoNation in the fourth quarter worth $9,247,000. Advisors Preferred LLC purchased a new position in shares of AutoNation in the 4th quarter valued at $2,147,000. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of AutoNation by 4.6% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,712 shares of the company’s stock valued at $257,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other 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.