Towle & Co. Lowers Stock Holdings in AutoNation, Inc. $AN

Towle & Co. lessened its stake in shares of AutoNation, Inc. (NYSE:AN) by 16.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,996 shares of the company’s stock after selling 10,282 shares during the period. AutoNation accounts for 2.9% of Towle & Co.’s holdings, making the stock its 7th largest position. Towle & Co.’s holdings in AutoNation were worth $11,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in AutoNation during the third quarter worth $228,000. Syon Capital LLC bought a new stake in shares of AutoNation in the 3rd quarter worth about $548,000. Crestwood Advisors Group LLC increased its holdings in AutoNation by 3.2% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company’s stock valued at $454,000 after purchasing an additional 64 shares in the last quarter. Rothschild Investment LLC acquired a new position in AutoNation in the third quarter worth $230,000. Finally, Vanguard Group Inc. grew its holdings in shares of AutoNation by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,176,626 shares of the company’s stock worth $694,950,000 after purchasing an additional 34,153 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors.

AutoNation Stock Up 0.0%

Shares of AutoNation stock opened at $201.15 on Friday. The business has a fifty day simple moving average of $209.86 and a 200 day simple moving average of $210.77. The stock has a market cap of $6.98 billion, a PE ratio of 11.79 and a beta of 0.88. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 2.39. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92.

AutoNation (NYSE:AN) last released its earnings results on Friday, February 6th. The company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The firm had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on AN shares. Morgan Stanley boosted their target price on shares of AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Stephens upped their price target on AutoNation from $228.00 to $232.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Wells Fargo & Company raised their price target on AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a report on Sunday, February 8th. Evercore boosted their price objective on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Finally, Barclays cut their target price on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.11.

About AutoNation

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.