Prospera Financial Services Inc Increases Stock Position in AutoNation, Inc. $AN

Prospera Financial Services Inc increased its holdings in shares of AutoNation, Inc. (NYSE:AN) by 108.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,381 shares of the company’s stock after purchasing an additional 2,804 shares during the period. Prospera Financial Services Inc’s holdings in AutoNation were worth $1,069,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after buying an additional 64 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of AutoNation by 45.3% in the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after acquiring an additional 117 shares during the period. SVB Wealth LLC purchased a new position in shares of AutoNation in the 1st quarter valued at $86,000. IFP Advisors Inc raised its position in shares of AutoNation by 38.0% in the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock worth $101,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of AutoNation by 33.3% in the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after acquiring an additional 153 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 research analysts recently weighed in on AN shares. Morgan Stanley raised their price objective on AutoNation from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Weiss Ratings raised shares of AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Citigroup raised their price target on shares of AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Wells Fargo & Company cut their price objective on shares of AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. Finally, Bank of America reduced their price objective on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus price target of $236.44.

AutoNation Stock Performance

Shares of AutoNation stock opened at $193.94 on Thursday. The company has a 50 day moving average price of $212.75 and a 200 day moving average price of $202.38. The firm has a market capitalization of $7.07 billion, a P/E ratio of 11.41, a PEG ratio of 0.91 and a beta of 0.87. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.16. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. AutoNation’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.02 EPS. Sell-side analysts expect that AutoNation, Inc. will post 18.15 EPS for the current year.

AutoNation declared that its Board of Directors has initiated a share buyback program on Friday, October 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About AutoNation

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.