Simcoe Capital Management LLC Makes New Investment in AutoNation, Inc. $AN

Simcoe Capital Management LLC bought a new stake in shares of AutoNation, Inc. (NYSE:AN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 86,795 shares of the company’s stock, valued at approximately $18,988,000. AutoNation makes up 2.8% of Simcoe Capital Management LLC’s portfolio, making the stock its 11th biggest position. Simcoe Capital Management LLC owned approximately 0.24% of AutoNation at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AN. Crestwood Advisors Group LLC boosted its holdings in shares of AutoNation by 3.2% during the third quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company’s stock worth $454,000 after purchasing an additional 64 shares during the period. Geneos Wealth Management Inc. increased its stake in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after buying an additional 64 shares during the period. Concurrent Investment Advisors LLC increased its stake in AutoNation by 1.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,540 shares of the company’s stock valued at $1,212,000 after buying an additional 77 shares during the period. Tower Research Capital LLC TRC lifted its position in AutoNation by 7.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,192 shares of the company’s stock worth $237,000 after buying an additional 78 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in AutoNation by 7.5% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 1,138 shares of the company’s stock worth $249,000 after buying an additional 79 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Trading Down 0.7%

AutoNation stock opened at $183.39 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.84 and a quick ratio of 0.22. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.75 and a beta of 0.89. AutoNation, Inc. has a one year low of $148.33 and a one year high of $228.92. The company’s fifty day moving average price is $205.23 and its two-hundred day moving average price is $209.45.

AutoNation (NYSE:AN) last posted its earnings results on Friday, February 6th. The company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.17. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $4.97 earnings per share. On average, analysts forecast that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on AN. Bank of America started coverage on shares of AutoNation in a research note on Wednesday, March 4th. They set a “buy” rating for the company. 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 report on Friday, January 16th. Stephens lifted their price objective on AutoNation from $228.00 to $232.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Barclays lowered their target price on AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company upped their target price on AutoNation from $222.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.67.

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.