The Manufacturers Life Insurance Company Buys New Position in AutoNation, Inc. $AN

The Manufacturers Life Insurance Company purchased a new position in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,697 shares of the company’s stock, valued at approximately $3,474,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. purchased a new stake in AutoNation in the second quarter valued at approximately $2,663,000. Kendall Capital Management purchased a new position in shares of AutoNation during the second quarter worth approximately $1,423,000. Commerce Bank acquired a new position in shares of AutoNation in the 2nd quarter valued at $203,000. Northwestern Mutual Wealth Management Co. purchased a new stake in AutoNation in the 2nd quarter valued at $477,000. Finally, Quantbot Technologies LP purchased a new stake in AutoNation in the 2nd quarter valued at $2,540,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $204.11 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. The stock has a 50 day simple moving average of $201.80 and a 200-day simple moving average of $197.25. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.72. AutoNation, Inc. has a 12-month low of $176.62 and a 12-month high of $235.81.

AutoNation (NYSE:AN) last posted its quarterly 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 return on equity of 31.24% and a net margin of 2.82%.The firm had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts forecast that AutoNation, Inc. will post 21.69 EPS for the current year.

Analysts Set New Price Targets

AN has been the topic of several research reports. Argus raised their price objective on shares of AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Morgan Stanley upped their target price on shares of AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 17th. Wells Fargo & Company raised their price target on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Finally, UBS Group reaffirmed a “buy” rating and set a $248.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoNation has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

Insider Buying and Selling

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 7,989 shares of the company’s stock, valued at approximately $1,757,580. This trade represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

AutoNation Company 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.