Glenview Trust Co Takes Position in AutoNation, Inc. $AN

Glenview Trust Co acquired a new stake in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, Holdings Channel reports. The institutional investor acquired 7,000 shares of the company’s stock, valued at approximately $1,301,000.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in AutoNation by 8.9% in the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock worth $3,070,000 after acquiring an additional 1,551 shares during the last quarter. United Services Automobile Association purchased a new stake in AutoNation during the 1st quarter valued at about $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AutoNation by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock valued at $15,967,000 after purchasing an additional 9,656 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of AutoNation by 17.3% in the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after purchasing an additional 511 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of AutoNation by 37.4% in the first 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. 94.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Seaport Research Partners restated a “buy” rating and issued a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. Wells Fargo & Company upped their target price on AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. cut their price target on shares of AutoNation from $235.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Citigroup raised their price target on shares of AutoNation from $287.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley lifted their price objective on shares of AutoNation from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Ten investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $250.00.

AutoNation Price Performance

Shares of AutoNation stock opened at $200.35 on Friday. The firm has a market cap of $6.62 billion, a PE ratio of 9.28, a P/E/G ratio of 0.83 and a beta of 0.71. AutoNation, Inc. has a twelve month low of $176.62 and a twelve month high of $235.81. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The business has a 50-day moving average price of $201.30 and a 200 day moving average price of $197.40.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the business posted $2.26 earnings per share. AutoNation’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Insider Activity at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the completion of the transaction, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. This represents a 10.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.

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.