Glenview Trust Co Buys New Position in AutoNation, Inc. $AN

Glenview Trust Co bought a new stake in shares of AutoNation, Inc. (NYSE:AN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,000 shares of the company’s stock, valued at approximately $1,301,000.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in AutoNation by 8.9% during the first quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after purchasing an additional 1,551 shares in the last quarter. United Services Automobile Association purchased a new stake in AutoNation in the 1st quarter worth $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in AutoNation by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock valued at $15,967,000 after acquiring an additional 9,656 shares during the period. Focus Partners Wealth raised its holdings in AutoNation by 17.3% during the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after acquiring an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AN shares. Barclays upped their target price on shares of AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Seaport Research Partners reissued a “buy” rating and set a $255.00 target price on shares of AutoNation in a research report on Monday, August 3rd. UBS Group reissued a “buy” rating and issued a $248.00 price objective on shares of AutoNation in a research report on Monday, August 3rd. Morgan Stanley boosted their target price on shares of AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Insider Buying and Selling at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total transaction of $198,000.00. Following the transaction, the director owned 7,989 shares in the company, valued at $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

AutoNation Stock Performance

Shares of AN opened at $200.35 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. The firm has a market cap of $6.62 billion, a PE ratio of 9.28, a P/E/G ratio of 0.83 and a beta of 0.71. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $235.81. The stock has a fifty day moving average price of $201.30 and a 200-day moving average price of $197.40.

AutoNation (NYSE:AN) last announced its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company posted $2.26 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

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.