Guggenheim Issues Pessimistic Forecast for AutoNation (NYSE:AN) Stock Price

AutoNation (NYSE:AN) had its target price decreased by equities researchers at Guggenheim from $190.00 to $189.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 9.62% from the company’s previous close.

AN has been the subject of a number of other research reports. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $145.00 to $200.00 in a research note on Wednesday, September 25th. Stephens initiated coverage on shares of AutoNation in a research note on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price target for the company. Bank of America cut their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. cut their price objective on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price objective on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.29.

AutoNation Price Performance

Shares of NYSE:AN opened at $172.41 on Thursday. The company has a 50 day moving average of $167.28 and a 200 day moving average of $168.34. The stock has a market cap of $6.84 billion, a P/E ratio of 9.93, a P/E/G ratio of 3.42 and a beta of 1.21. AutoNation has a 12 month low of $130.35 and a 12 month high of $197.18. The company has a current ratio of 0.80, a quick ratio of 0.20 and a debt-to-equity ratio of 1.58.

Insider Activity at AutoNation

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the completion of the sale, the insider now directly owns 3,786,144 shares in the company, valued at $694,492,393.92. This represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AutoNation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AN. Diversified Trust Co bought a new position in AutoNation in the 2nd quarter worth $838,000. BOKF NA raised its holdings in AutoNation by 39.1% in the 1st quarter. BOKF NA now owns 53,461 shares of the company’s stock worth $8,808,000 after purchasing an additional 15,015 shares in the last quarter. Caxton Associates LP bought a new position in AutoNation in the 1st quarter worth $1,083,000. Raymond James & Associates raised its holdings in AutoNation by 10.7% in the 2nd quarter. Raymond James & Associates now owns 58,084 shares of the company’s stock worth $9,257,000 after purchasing an additional 5,611 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in AutoNation in the 2nd quarter worth $602,000. 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.