AutoNation, Inc. (AN) Stake Held by Westpac Banking Corp
Westpac Banking Corp continued to hold its stake in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,861 shares of the company’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in AutoNation were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew 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 purchasing an additional 372 shares during the last quarter. Invictus RG grew its holdings in AutoNation by 58.2% during the 1st quarter. Invictus RG now owns 4,981 shares of the company’s stock valued at $211,000 after purchasing an additional 1,833 shares during the last quarter. Clinton Group Inc. bought a new position in AutoNation during the 1st quarter valued at about $2,065,000. Dynamic Capital Management Ltd bought a new position in AutoNation during the 1st quarter valued at about $581,000. Finally, California Public Employees Retirement System grew its holdings in AutoNation by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 161,200 shares of the company’s stock valued at $6,817,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 73.42% of the company’s stock.
In other news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the sale, the director now directly owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.
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AutoNation, Inc. (NYSE:AN) opened at 46.10 on Tuesday. The company has a market capitalization of $4.63 billion, a P/E ratio of 11.48 and a beta of 1.22. The firm has a 50-day moving average of $42.86 and a 200-day moving average of $41.94. AutoNation, Inc. has a 52 week low of $38.20 and a 52 week high of $53.74.
AutoNation (NYSE:AN) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.12). The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. AutoNation’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Analysts anticipate that AutoNation, Inc. will post $3.59 EPS for the current fiscal year.
AutoNation declared that its Board of Directors has authorized a share repurchase plan on Tuesday, August 29th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several equities analysts recently commented on AN shares. BidaskClub upgraded shares of AutoNation from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. KeyCorp reiterated a “hold” rating on shares of AutoNation in a report on Friday, September 1st. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Thursday, June 8th. Deutsche Bank AG restated a “hold” rating and issued a $46.00 target price (down from $50.00) on shares of AutoNation in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $49.00 target price on shares of AutoNation in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.70.
AutoNation Company Profile
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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