Cibc World Market Inc. Makes New $2.66 Million Investment in AutoNation, Inc. $AN

Cibc World Market Inc. bought a new stake in shares of AutoNation, Inc. (NYSE:AN) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,331 shares of the company’s stock, valued at approximately $2,663,000.

Several other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in shares of AutoNation by 0.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company’s stock valued at $1,960,000 after acquiring an additional 52 shares during the period. Kestra Advisory Services LLC boosted its stake in AutoNation by 0.9% during the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock valued at $1,170,000 after purchasing an additional 53 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in AutoNation by 0.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock valued at $1,376,000 after purchasing an additional 55 shares in the last quarter. Redwood Investment Management LLC increased its position in shares of AutoNation by 1.1% during the 1st quarter. Redwood Investment Management LLC now owns 5,372 shares of the company’s stock valued at $1,049,000 after purchasing an additional 61 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of AutoNation by 13.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company’s stock valued at $114,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Trading Down 0.2%

AutoNation stock opened at $196.37 on Thursday. The company has a 50 day moving average price of $200.86 and a 200 day moving average price of $197.51. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $235.81. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 0.82 and a beta of 0.71.

AutoNation (NYSE:AN) last announced its earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.48 by $0.08. The company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 EPS. Research analysts forecast that AutoNation, Inc. will post 21.69 EPS for the current year.

Insider Buying and Selling at AutoNation

In other news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction 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 transaction, the director owned 7,989 shares in the company, valued at approximately $1,757,580. The trade was a 10.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

AN has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on AutoNation from $235.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Seaport Research Partners reaffirmed a “buy” rating and set a $255.00 target price on shares of AutoNation in a report on Monday, August 3rd. Barclays boosted their price target on shares of AutoNation from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Argus upped their price target on shares of AutoNation from $241.00 to $246.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Stephens raised their price objective on shares of AutoNation from $220.00 to $232.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, AutoNation has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

AutoNation 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.