Wells Fargo & Company Forecasts Strong Price Appreciation for AutoNation (NYSE:AN) Stock

AutoNation (NYSE:AN) had its target price boosted by stock analysts at Wells Fargo & Company from $170.00 to $194.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 1.41% from the stock’s current price.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Stephens raised their price objective on AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Guggenheim reduced their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.71.

AutoNation Price Performance

Shares of AutoNation stock traded down $3.86 during trading on Wednesday, reaching $191.30. 42,902 shares of the company’s stock were exchanged, compared to its average volume of 446,672. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.20 and a current ratio of 0.80. AutoNation has a 1-year low of $136.35 and a 1-year high of $198.50. The company has a market cap of $7.58 billion, a P/E ratio of 11.00, a PEG ratio of 3.71 and a beta of 1.25. The firm’s 50-day moving average price is $178.93 and its 200 day moving average price is $173.24.

AutoNation (NYSE:AN) last issued its earnings results on Tuesday, February 11th. The company reported $4.97 EPS for the quarter, topping the consensus estimate of $4.26 by $0.71. AutoNation had a return on equity of 32.01% and a net margin of 2.74%. As a group, research analysts anticipate that AutoNation will post 16.74 earnings per share for the current year.

Hedge Funds Weigh In On AutoNation

A number of hedge funds have recently made changes to their positions in AN. Fortitude Family Office LLC boosted its position in AutoNation by 581.8% during the fourth quarter. Fortitude Family Office LLC now owns 150 shares of the company’s stock valued at $25,000 after acquiring an additional 128 shares during the last quarter. Global X Japan Co. Ltd. raised its position in shares of AutoNation by 150.8% in the 4th quarter. Global X Japan Co. Ltd. now owns 158 shares of the company’s stock worth $27,000 after acquiring an additional 95 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in AutoNation by 403.6% in the third quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after purchasing an additional 226 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of AutoNation by 54.0% during the 3rd quarter. GAMMA Investing LLC now owns 311 shares of the company’s stock valued at $56,000 after acquiring an additional 109 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of AutoNation by 77.1% during the 4th quarter. Farther Finance Advisors LLC now owns 494 shares of the company’s stock worth $84,000 after purchasing an additional 215 shares in the last quarter. 94.62% of the stock is currently owned by 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.