State of Tennessee Treasury Department lifted its position in AutoNation, Inc. (NYSE:AN) by 233.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the company’s stock after acquiring an additional 41,998 shares during the quarter. State of Tennessee Treasury Department owned 0.06% of AutoNation worth $2,848,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its holdings in AutoNation by 8.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock valued at $215,000 after buying an additional 372 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in AutoNation by 35.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 23,240 shares of the company’s stock valued at $981,000 after buying an additional 6,082 shares in the last quarter. Private Management Group Inc. lifted its holdings in AutoNation by 43.9% during the 2nd quarter. Private Management Group Inc. now owns 728,091 shares of the company’s stock valued at $30,696,000 after buying an additional 222,267 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in AutoNation during the 2nd quarter valued at about $2,304,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in AutoNation by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 348,313 shares of the company’s stock valued at $14,685,000 after buying an additional 21,198 shares in the last quarter. Hedge funds and other institutional investors own 83.61% of the company’s stock.
Shares of AutoNation, Inc. (AN) opened at $51.72 on Friday. AutoNation, Inc. has a twelve month low of $38.20 and a twelve month high of $55.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.17. The company has a market cap of $4,790.00, a PE ratio of 13.79, a PEG ratio of 2.21 and a beta of 1.24.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.80% and a return on equity of 16.66%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. sell-side analysts expect that AutoNation, Inc. will post 3.74 earnings per share for the current year.
AutoNation declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, COO Lance E. Iserman sold 5,886 shares of AutoNation stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $52.46, for a total value of $308,779.56. Following the transaction, the chief operating officer now owns 4,860 shares of the company’s stock, valued at approximately $254,955.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 3,480 shares of AutoNation stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,733 shares of company stock valued at $676,747. Company insiders own 3.10% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. ValuEngine lowered shares of AutoNation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Deutsche Bank AG reiterated a “hold” rating and set a $43.00 price objective (down previously from $46.00) on shares of AutoNation in a report on Wednesday, August 9th. Buckingham Research decreased their price objective on shares of AutoNation from $44.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Berenberg Bank assumed coverage on shares of AutoNation in a report on Wednesday, October 4th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Northcoast Research lowered shares of AutoNation from a “buy” rating to a “neutral” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.88.
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AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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