AutoNation, Inc. (NYSE:AN) Sees Significant Decrease in Short Interest

AutoNation, Inc. (NYSE:AN) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,980,000 shares, a decline of 13.2% from the November 15th total of 2,280,000 shares. Based on an average trading volume of 486,200 shares, the short-interest ratio is currently 4.1 days. Approximately 7.6% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on AN. Guggenheim lowered their price objective on shares of AutoNation from $190.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Bank of America decreased their target price 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. dropped their price target on shares of AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $200.00 in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company lowered their target price on 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, AutoNation currently has an average rating of “Moderate Buy” and an average target price of $199.29.

Institutional Investors Weigh In On AutoNation

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in AutoNation in the second quarter worth about $37,000. Venturi Wealth Management LLC grew its position in shares of AutoNation by 403.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 282 shares of the company’s stock worth $50,000 after acquiring an additional 226 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AutoNation by 54.0% in the 3rd quarter. GAMMA Investing LLC now owns 311 shares of the company’s stock worth $56,000 after acquiring an additional 109 shares in the last quarter. Quarry LP increased its holdings in shares of AutoNation by 498.5% in the 2nd quarter. Quarry LP now owns 407 shares of the company’s stock valued at $65,000 after acquiring an additional 339 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of AutoNation by 212.2% during the 2nd quarter. Fifth Third Bancorp now owns 743 shares of the company’s stock valued at $118,000 after acquiring an additional 505 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Down 1.3 %

AN opened at $172.70 on Friday. AutoNation has a 12-month low of $133.13 and a 12-month high of $197.18. 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 stock has a market capitalization of $6.85 billion, a PE ratio of 9.96, a P/E/G ratio of 3.68 and a beta of 1.24. The firm’s fifty day moving average price is $168.35 and its 200 day moving average price is $169.41.

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.