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

AutoNation (NYSE:AN - Get Free Report) had its price objective upped by Wells Fargo & Company from $169.00 to $170.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would indicate a potential downside of 6.73% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Guggenheim reduced their price objective on shares of AutoNation from $190.00 to $189.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Morgan Stanley raised 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 report on Wednesday, September 25th. Bank of America lowered their price objective on AutoNation from $220.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. reduced their target price on AutoNation from $190.00 to $180.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $197.71.

AutoNation Stock Up 1.8 %

AN traded up $3.24 during midday trading on Wednesday, hitting $182.26. 448,729 shares of the company's stock traded hands, compared to its average volume of 388,335. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.80 and a quick ratio of 0.20. The company has a market cap of $7.23 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 3.63 and a beta of 1.26. AutoNation has a one year low of $133.13 and a one year high of $197.18. The stock's fifty day simple moving average is $172.58 and its 200-day simple moving average is $170.60.

Institutional Trading of AutoNation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AN. Fortitude Family Office LLC boosted its position in shares of AutoNation by 581.8% in 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 period. Venturi Wealth Management LLC boosted its holdings in AutoNation by 403.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company's stock valued at $50,000 after purchasing an additional 226 shares during the period. GAMMA Investing LLC boosted its holdings in AutoNation by 54.0% in the 3rd quarter. GAMMA Investing LLC now owns 311 shares of the company's stock valued at $56,000 after purchasing an additional 109 shares during the period. Quarry LP grew its position in AutoNation by 498.5% in the 2nd quarter. Quarry LP now owns 407 shares of the company's stock worth $65,000 after purchasing an additional 339 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of AutoNation by 28.1% during the 3rd quarter. NBC Securities Inc. now owns 802 shares of the company's stock worth $143,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds 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.