Lombard Odier Asset Management USA Corp Sells 19,706 Shares of AutoNation, Inc. $AN

Lombard Odier Asset Management USA Corp lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 93.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,294 shares of the company’s stock after selling 19,706 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in AutoNation were worth $257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the period. Parallel Advisors LLC raised its holdings in AutoNation by 45.3% during the second 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. IFP Advisors Inc lifted its position in shares of AutoNation by 38.0% in the second quarter. IFP Advisors Inc now owns 508 shares of the company’s stock valued at $101,000 after acquiring an additional 140 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of AutoNation in the first quarter valued at about $86,000. Finally, GAMMA Investing LLC grew its position in shares of AutoNation by 33.3% during the second quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after purchasing an additional 153 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Price Performance

AutoNation stock opened at $221.88 on Thursday. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $228.92. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93. The firm’s fifty day moving average is $207.34 and its 200 day moving average is $206.10. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.99 and a beta of 0.89.

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

AutoNation announced that its Board of Directors has authorized a stock buyback program on Friday, October 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on AN shares. Morgan Stanley boosted their price target on AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America lowered their target price on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AutoNation in a research note on Monday. Wells Fargo & Company reduced their price target on shares of AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. Finally, Evercore ISI increased their price objective on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and an average price target of $244.00.

AutoNation Profile

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.