AutoNation (NYSE:AN) Given New $169.00 Price Target at Guggenheim

AutoNation (NYSE:AN) had its price objective raised by Guggenheim from $165.00 to $169.00 in a report released on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of AutoNation from a buy rating to a hold rating in a research note on Wednesday, February 21st. Wells Fargo & Company lifted their price target on shares of AutoNation from $144.00 to $150.00 and gave the stock an equal weight rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded shares of AutoNation from an underweight rating to an equal weight rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, February 29th. Evercore ISI assumed coverage on shares of AutoNation in a research note on Wednesday, January 17th. They set an outperform rating and a $185.00 price target on the stock. Finally, Bank of America cut their price target on shares of AutoNation from $220.00 to $215.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, AutoNation has an average rating of Moderate Buy and a consensus target price of $173.00.

AutoNation Price Performance

Shares of AN opened at $152.37 on Wednesday. AutoNation has a twelve month low of $123.81 and a twelve month high of $182.08. The firm’s fifty day simple moving average is $152.71 and its 200-day simple moving average is $143.98. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 1.24 and a beta of 1.24. The company has a current ratio of 0.77, a quick ratio of 0.23 and a debt-to-equity ratio of 1.53.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.17. AutoNation had a net margin of 3.79% and a return on equity of 48.76%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the business earned $6.37 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that AutoNation will post 18.95 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Edward S. Lampert sold 380,497 shares of AutoNation stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $143.12, for a total value of $54,456,730.64. Following the sale, the insider now owns 4,278,664 shares of the company’s stock, valued at $612,362,391.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Edward S. Lampert sold 380,497 shares of AutoNation stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $143.12, for a total value of $54,456,730.64. Following the sale, the insider now owns 4,278,664 shares of the company’s stock, valued at $612,362,391.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kimberly Dees sold 3,133 shares of AutoNation stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $152.28, for a total transaction of $477,093.24. Following the completion of the sale, the chief accounting officer now directly owns 464 shares in the company, valued at approximately $70,657.92. The disclosure for this sale can be found here. Insiders have sold a total of 501,776 shares of company stock valued at $73,818,692 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

Institutional Trading of AutoNation

A number of institutional investors have recently added to or reduced their stakes in AN. Raymond James Financial Services Advisors Inc. boosted its holdings in AutoNation by 13.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,667 shares of the company’s stock worth $1,361,000 after buying an additional 1,656 shares in the last quarter. Cetera Advisor Networks LLC purchased a new stake in AutoNation during the first quarter worth about $215,000. Natixis Advisors L.P. boosted its holdings in AutoNation by 2.8% during the first quarter. Natixis Advisors L.P. now owns 11,818 shares of the company’s stock worth $1,177,000 after buying an additional 320 shares in the last quarter. Acadian Asset Management LLC raised its position in AutoNation by 47.0% during the first quarter. Acadian Asset Management LLC now owns 5,081 shares of the company’s stock worth $505,000 after acquiring an additional 1,625 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in AutoNation by 33.6% during the first quarter. MetLife Investment Management LLC now owns 25,882 shares of the company’s stock worth $2,577,000 after acquiring an additional 6,508 shares during 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.