Wells Fargo & Company Issues Positive Forecast for AutoNation (NYSE:AN) Stock Price

Key Points

• Wells Fargo raised AutoNation’s price target from $202 to $224 while maintaining an “equal weight” rating, implying 5.37% upside from the previous close.
• Analyst sentiment is broadly positive: AutoNation has a “Moderate Buy” consensus rating from 12 analysts, with an average price target of $248.18.
• AutoNation beat quarterly earnings expectations, reporting $5.56 in EPS versus the $5.48 consensus, although revenue of $6.93 billion declined 0.6% year over year and missed estimates.

AutoNation (NYSE:AN - Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $202.00 to $224.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 5.37% from the stock's previous close.

A number of other equities research analysts have also weighed in on AN. Weiss Ratings raised shares of AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Morgan Stanley reiterated an "overweight" rating and set a $240.00 price target on shares of AutoNation in a report on Thursday, May 7th. Northcoast Research raised shares of AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 price objective on the stock in a research note on Tuesday, July 14th. Citigroup increased their price objective on AutoNation from $269.00 to $287.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Finally, Barclays raised their target price on AutoNation from $255.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $248.18.

AutoNation Price Performance

AutoNation stock opened at $212.59 on Monday. The stock has a 50-day moving average price of $195.64 and a two-hundred day moving average price of $198.39. AutoNation has a 12 month low of $176.62 and a 12 month high of $235.81. The company has a market capitalization of $7.11 billion, a PE ratio of 9.85, a P/E/G ratio of 0.90 and a beta of 0.71. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping the consensus estimate of $5.48 by $0.08. AutoNation had a return on equity of 30.91% and a net margin of 2.82%.The company had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $7 billion. During the same period in the previous year, the business posted $2.26 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. Analysts expect that AutoNation will post 21.41 EPS for the current year.

Insider Transactions at AutoNation

In other AutoNation news, CAO Kimberly Dees sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the completion of the transaction, the chief accounting officer owned 1,456 shares in the company, valued at approximately $298,348.96. This trade represents a 63.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On AutoNation

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in AutoNation by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company's stock valued at $1,960,000 after buying an additional 52 shares during the period. Kestra Advisory Services LLC raised its position in shares of AutoNation by 0.9% in the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company's stock worth $1,170,000 after acquiring an additional 53 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of AutoNation by 0.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company's stock valued at $1,376,000 after purchasing an additional 55 shares during the period. Redwood Investment Management LLC lifted its stake in shares of AutoNation by 1.1% in the 1st quarter. Redwood Investment Management LLC now owns 5,372 shares of the company's stock valued at $1,049,000 after purchasing an additional 61 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of AutoNation by 13.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company's stock valued at $114,000 after purchasing an additional 61 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.

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