AutoNation, Inc. (NYSE:AN) Major Shareholder Sells $4,083,789.87 in Stock

AutoNation, Inc. (NYSE:AN) major shareholder Edward S. Lampert sold 23,703 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $172.29, for a total value of $4,083,789.87. Following the completion of the sale, the insider now directly owns 3,980,467 shares in the company, valued at approximately $685,794,659.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

AutoNation Trading Down 1.3 %

Shares of AN opened at $173.80 on Friday. The stock’s fifty day simple moving average is $166.44 and its 200 day simple moving average is $156.49. AutoNation, Inc. has a twelve month low of $123.81 and a twelve month high of $182.81. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $7.00 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 3.44 and a beta of 1.21.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, April 26th. The company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same period last year, the business posted $6.05 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that AutoNation, Inc. will post 18.28 earnings per share for the current year.

AutoNation announced that its board has initiated a stock repurchase program on Friday, April 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 14.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On AutoNation

A number of hedge funds have recently made changes to their positions in AN. First United Bank & Trust purchased a new stake in shares of AutoNation during the 4th quarter valued at about $26,000. Private Wealth Management Group LLC bought a new stake in shares of AutoNation in the fourth quarter worth $27,000. Anchor Investment Management LLC acquired a new position in AutoNation in the fourth quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in shares of AutoNation in the 4th quarter valued at approximately $30,000. Finally, Avalon Trust Co acquired a new stake in shares of AutoNation during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI increased their target price on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Wells Fargo & Company boosted their target price on shares of AutoNation from $153.00 to $169.00 and gave the company an “equal weight” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price target on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Bank of America cut their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Guggenheim lifted their target price on shares of AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.71.

AutoNation Company 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.