Mitsubishi UFJ Trust & Banking Corp Purchases 22,664 Shares of AutoNation, Inc. $AN

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in AutoNation, Inc. (NYSE:AN) by 51.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 66,489 shares of the company’s stock after acquiring an additional 22,664 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in AutoNation were worth $14,546,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AN. Conscious Wealth Investments LLC lifted its stake in shares of AutoNation by 0.3% in the second quarter. Conscious Wealth Investments LLC now owns 21,933 shares of the company’s stock valued at $4,239,000 after buying an additional 56 shares in the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of AutoNation by 1.1% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,622 shares of the company’s stock worth $1,117,000 after acquiring an additional 62 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after acquiring an additional 64 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position 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 acquiring an additional 77 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its stake in AutoNation by 0.9% during the 2nd quarter. IVC Wealth Advisors LLC now owns 9,074 shares of the company’s stock valued at $1,803,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Price Performance

AN opened at $214.11 on Wednesday. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The firm has a 50-day moving average of $211.55 and a 200 day moving average of $209.94. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The firm has a market cap of $7.81 billion, a P/E ratio of 12.59 and a beta of 0.88.

AutoNation announced that its board has approved a share repurchase program on Friday, October 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AN has been the subject of several analyst reports. Evercore ISI raised their target price on AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Morgan Stanley increased their price target on AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Citigroup lifted their price objective on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Barclays reduced their price objective on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of AutoNation in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and an average target price of $243.67.

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.