Oppenheimer Asset Management Inc. Takes Position in AutoNation, Inc. $AN

Oppenheimer Asset Management Inc. purchased a new stake in shares of AutoNation, Inc. (NYSE:AN) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,596 shares of the company’s stock, valued at approximately $482,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of AutoNation by 0.6% in 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 in the last quarter. Kestra Advisory Services LLC raised its position in AutoNation by 0.9% in the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock valued at $1,170,000 after buying an additional 53 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in AutoNation by 0.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock valued at $1,376,000 after buying an additional 55 shares during the last quarter. Redwood Investment Management LLC lifted its stake 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 acquiring an additional 61 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake 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 acquiring an additional 61 shares in the last quarter. 94.62% of the stock is owned by institutional investors.

AutoNation Stock Performance

NYSE AN opened at $204.93 on Tuesday. AutoNation, Inc. has a 52-week low of $176.62 and a 52-week high of $235.81. The company has a 50-day simple moving average of $200.12 and a 200 day simple moving average of $198.04. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78. The company has a market capitalization of $6.77 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.71.

AutoNation (NYSE:AN) last released its earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, beating 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 firm had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that AutoNation, Inc. will post 21.69 EPS for the current year.

Insider Activity at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director owned 7,989 shares in the company, valued at approximately $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AN. JPMorgan Chase & Co. reduced their target price on shares of AutoNation from $235.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 4th. Wells Fargo & Company raised their price target on shares of AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Seaport Research Partners restated a “buy” rating and set a $255.00 price target on shares of AutoNation in a report on Monday, August 3rd. Citigroup upped their price objective on shares of AutoNation from $287.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Stephens increased their price objective on shares of AutoNation from $220.00 to $232.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

AutoNation Profile

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.