State of Wisconsin Investment Board Increases Position in AutoNation, Inc. (AN)
State of Wisconsin Investment Board increased its position in AutoNation, Inc. (NYSE:AN) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,169 shares of the company’s stock after purchasing an additional 8,872 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.06% of AutoNation worth $2,856,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in shares of AutoNation by 8.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after buying an additional 372 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of AutoNation by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after buying an additional 24 shares during the period. Nomura Holdings Inc. acquired a new position in shares of AutoNation during the 2nd quarter worth about $219,000. Greatmark Investment Partners Inc. acquired a new position in shares of AutoNation during the 2nd quarter worth about $231,000. Finally, Savant Capital LLC grew its position in shares of AutoNation by 10.5% during the 2nd quarter. Savant Capital LLC now owns 5,660 shares of the company’s stock worth $239,000 after buying an additional 540 shares during the period. Hedge funds and other institutional investors own 81.14% of the company’s stock.
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AutoNation, Inc. (AN) opened at $52.09 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.17. AutoNation, Inc. has a 12-month low of $38.20 and a 12-month high of $55.77. The stock has a market capitalization of $4,763.84, a P/E ratio of 13.53, a P/E/G ratio of 2.17 and a beta of 1.24.
AutoNation (NYSE:AN) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.16. AutoNation had a return on equity of 16.40% and a net margin of 1.87%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the firm earned $1.05 EPS. AutoNation’s quarterly revenue was down 2.4% compared to the same quarter last year. research analysts anticipate that AutoNation, Inc. will post 3.74 earnings per share for the current fiscal year.
AutoNation announced that its board has approved a stock buyback plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other AutoNation news, EVP Donna L. Parlapiano sold 3,367 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $51.81, for a total value of $174,444.27. Following the sale, the executive vice president now owns 11,469 shares in the company, valued at approximately $594,208.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Lance E. Iserman sold 5,886 shares of the business’s 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 completion of the sale, the chief operating officer now owns 4,860 shares in the company, valued at approximately $254,955.60. The disclosure for this sale can be found here. Insiders sold a total of 12,733 shares of company stock valued at $676,747 over the last quarter. 3.10% of the stock is owned by insiders.
Several equities analysts have recently issued reports on AN shares. Susquehanna Bancshares Inc lowered AutoNation to a “neutral” rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Monday, October 2nd. UBS Group AG lowered AutoNation from a “positive” rating to a “neutral” rating in a research report on Thursday, September 28th. Jefferies Group LLC restated a “hold” rating and set a $44.00 target price on shares of AutoNation in a research report on Sunday, September 10th. KeyCorp restated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Finally, ValuEngine upgraded AutoNation from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.88.
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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