AutoNation, Inc. $AN Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of AutoNation, Inc. (NYSE:AN) by 23.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,942 shares of the company’s stock after purchasing an additional 2,466 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AutoNation were worth $2,785,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AN. Conscious Wealth Investments LLC lifted its stake in AutoNation by 0.3% in the 2nd quarter. Conscious Wealth Investments LLC now owns 21,933 shares of the company’s stock valued at $4,239,000 after buying an additional 56 shares in the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of AutoNation by 1.1% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,622 shares of the company’s stock worth $1,117,000 after buying an additional 62 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after acquiring an additional 64 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in AutoNation by 1.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,540 shares of the company’s stock worth $1,212,000 after purchasing an additional 77 shares in the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in shares of AutoNation by 0.9% in the 2nd quarter. IVC Wealth Advisors LLC now owns 9,074 shares of the company’s stock valued at $1,803,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Stock Performance

AN stock opened at $215.88 on Thursday. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The stock has a market cap of $7.87 billion, a P/E ratio of 12.70 and a beta of 0.88. The firm has a 50 day simple moving average of $211.88 and a 200 day simple moving average of $209.98.

AutoNation declared that its board has authorized a stock repurchase program on Friday, October 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

AN has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Evercore ISI increased their target price on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Wells Fargo & Company raised their price target on shares of AutoNation from $220.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. upgraded AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective for the company in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AutoNation in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.67.

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.