Engineers Gate Manager LP Increases Stake in AutoNation, Inc. $AN

Engineers Gate Manager LP lifted its holdings in shares of AutoNation, Inc. (NYSE:AN) by 56.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,379 shares of the company’s stock after purchasing an additional 14,134 shares during the period. Engineers Gate Manager LP owned about 0.12% of AutoNation worth $7,316,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its stake in shares of AutoNation by 0.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company’s stock valued at $1,960,000 after purchasing an additional 52 shares during the period. Kestra Advisory Services LLC boosted its holdings in AutoNation by 0.9% in the fourth quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock valued at $1,170,000 after acquiring an additional 53 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in AutoNation by 0.9% in the third quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock valued at $1,376,000 after acquiring an additional 55 shares in the last quarter. Redwood Investment Management LLC increased its position in AutoNation by 1.1% during the 1st quarter. Redwood Investment Management LLC now owns 5,372 shares of the company’s stock valued at $1,049,000 after purchasing an additional 61 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in AutoNation by 13.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company’s stock valued at $114,000 after purchasing an additional 61 shares during the period. 94.62% of the stock is owned by institutional investors.

AutoNation Trading Down 1.8%

NYSE:AN opened at $203.43 on Friday. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.00 and a beta of 0.72. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The company’s 50 day moving average price is $204.93 and its 200-day moving average price is $197.60. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the business earned $2.26 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AN. Barclays raised 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. UBS Group reissued a “buy” rating and issued a $248.00 price target on shares of AutoNation in a research note on Monday, August 3rd. Argus raised their price objective on shares of AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Northcoast Research upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 target price on the stock in a report on Tuesday, July 14th. Finally, Morgan Stanley increased their target price on AutoNation from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Insider Buying and Selling at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the completion of the sale, the director directly owned 7,989 shares in the company, valued at approximately $1,757,580. This trade represents a 10.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.

AutoNation Company Profile

AutoNation, Inc is a leading automotive retailer in the United States. The company sells new and used vehicles through a network of franchised dealerships and provides automotive services including vehicle financing, insurance products, maintenance, repair, parts, and collision-repair services.

In addition to its manufacturer-branded dealerships, AutoNation operates AutoNation USA locations focused primarily on used vehicles and offers digital tools that allow customers to research, purchase, finance, and service vehicles online.