- Edward Lampert (Trades, Portfolio) reduces his stake in AutoNation, affecting market sentiment.
- Analyst forecasts suggest a moderate upside for AutoNation in 2024.
- GuruFocus estimates indicate a potential downside risk based on current valuation.
Edward Lampert (Trades, Portfolio), through his hedge fund ESL Investments, has scaled down his investment in AutoNation (AN, Financial) from 7.2% to 6%. As a former significant shareholder and director, Lampert's continued reduction of holdings has impacted market sentiment, leading to a 1.5% dip in premarket trading. This downturn comes despite the stock's impressive 20% surge so far this year.
Wall Street Analysts' Forecast
A review of price targets from 10 financial analysts reveals an average target price for AutoNation Inc (AN, Financial) of $208.30. These estimates vary, with a high target of $255.00 and a low of $175.00. This average target suggests a potential upside of 3.62% from its current trading price of $201.03. For more detailed predictions, you can visit the AutoNation Inc (AN) Forecast page.
Consensus from 14 brokerage firms places AutoNation Inc's (AN, Financial) average recommendation at 2.1, denoting an "Outperform" status. The recommendation scale spans from 1 (Strong Buy) to 5 (Sell), highlighting analyst optimism about the company's market performance.
GuruFocus Valuation Insights
According to GuruFocus estimates, the projected GF Value for AutoNation Inc (AN, Financial) is $190.17 in one year, which suggests a possible downside of 5.4% from the current price. GF Value represents what GuruFocus considers the fair trading value for the stock, derived from historical trading multiples, past business growth, and anticipated future performance. Further analysis and data are available on the AutoNation Inc (AN) Summary page.
