AutoNation, Inc. $AN Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of AutoNation, Inc. (NYSE:AN) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,534 shares of the company’s stock after selling 7,204 shares during the period. Rhumbline Advisers owned approximately 0.19% of AutoNation worth $14,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake 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 buying an additional 64 shares in the last quarter. Parallel Advisors LLC boosted its holdings in AutoNation by 45.3% during the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after acquiring an additional 117 shares during the period. SVB Wealth LLC acquired a new position in AutoNation in the 1st quarter valued at about $86,000. IFP Advisors Inc increased its stake in AutoNation by 38.0% during the second quarter. IFP Advisors Inc now owns 508 shares of the company’s stock worth $101,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of AutoNation by 33.3% during the second quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after purchasing an additional 153 shares in the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Stock Performance

NYSE:AN opened at $211.29 on Friday. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.79 and a quick ratio of 0.20. The firm has a market capitalization of $7.71 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.91 and a beta of 0.87. The business’s fifty day moving average price is $208.11 and its 200 day moving average price is $204.53.

AutoNation (NYSE:AN) last released its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.16. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the prior year, the firm posted $4.02 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal year.

AutoNation declared that its Board of Directors has approved a stock buyback plan on Friday, October 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on AN shares. Wells Fargo & Company dropped their price objective on shares of AutoNation from $221.00 to $220.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. Citigroup boosted their price target on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen cut AutoNation from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Evercore ISI lifted 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. Finally, JPMorgan Chase & Co. upped their price target on AutoNation from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, AutoNation has an average rating of “Moderate Buy” and a consensus target price of $243.11.

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.