First Trust Advisors LP Decreases Stake in AutoNation Inc. (AN)
First Trust Advisors LP decreased its stake in AutoNation Inc. (NYSE:AN) by 83.4% during the second quarter, Holdings Channel reports. The institutional investor owned 48,903 shares of the company’s stock after selling 245,014 shares during the period. First Trust Advisors LP’s holdings in AutoNation were worth $2,297,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AN. State Street Corp boosted its stake in shares of AutoNation by 0.3% in the first quarter. State Street Corp now owns 3,278,314 shares of the company’s stock valued at $153,021,000 after buying an additional 9,482 shares during the period. Burgundy Asset Management Ltd. acquired a new stake in shares of AutoNation during the first quarter valued at approximately $51,786,000. Orbis Allan Gray Ltd acquired a new stake in shares of AutoNation during the first quarter valued at approximately $40,182,000. Norges Bank acquired a new stake in shares of AutoNation during the fourth quarter valued at approximately $39,603,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of AutoNation by 2.9% in the second quarter. Hennessy Advisors Inc. now owns 583,200 shares of the company’s stock valued at $27,399,000 after buying an additional 16,700 shares during the period. 69.11% of the stock is owned by institutional investors and hedge funds.
AutoNation Inc. (NYSE:AN) traded up 0.70% during trading on Friday, reaching $48.62. The company’s stock had a trading volume of 324,331 shares. The company’s 50 day moving average price is $48.49 and its 200 day moving average price is $48.64. AutoNation Inc. has a 52 week low of $40.45 and a 52 week high of $65.51. The company has a market cap of $4.96 billion, a P/E ratio of 12.51 and a beta of 1.24.
AutoNation (NYSE:AN) last issued its earnings results on Friday, July 29th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. The company earned $5.44 billion during the quarter, compared to analysts’ expectations of $5.51 billion. AutoNation had a net margin of 1.99% and a return on equity of 19.91%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. On average, equities analysts anticipate that AutoNation Inc. will post $4.26 earnings per share for the current fiscal year.
Several analysts have recently commented on AN shares. CL King started coverage on AutoNation in a research report on Wednesday, September 7th. They issued a “buy” rating for the company. Wolfe Research started coverage on AutoNation in a research report on Wednesday, August 31st. They issued a “peer perform” rating for the company. Jefferies Group raised their target price on AutoNation from $50.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Seaport Global Securities started coverage on AutoNation in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. Finally, TheStreet raised AutoNation from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.43.
AutoNation, Inc 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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