Garner Asset Management Corp Sells 6,023 Shares of AutoNation, Inc. $AN

Garner Asset Management Corp trimmed its holdings in shares of AutoNation, Inc. (NYSE:AN) by 24.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,728 shares of the company’s stock after selling 6,023 shares during the period. Garner Asset Management Corp’s holdings in AutoNation were worth $3,000,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its stake in AutoNation by 73.9% in the second quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $36,000 after purchasing an additional 82 shares in the last quarter. Bessemer Group Inc. lifted its position in AutoNation by 33.0% during the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock worth $59,000 after buying an additional 76 shares in the last quarter. Global Retirement Partners LLC acquired a new position in AutoNation during the 2nd quarter worth about $63,000. Root Financial Partners LLC acquired a new position in AutoNation during the 3rd quarter worth about $85,000. Finally, Community Financial Services Group LLC bought a new stake in AutoNation during the 2nd quarter worth about $108,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Stock Performance

Shares of NYSE AN opened at $178.76 on Wednesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 0.77 and a quick ratio of 0.18. The stock’s fifty day moving average price is $176.23 and its two-hundred day moving average price is $193.43. AutoNation, Inc. has a one year low of $151.82 and a one year high of $235.81. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 0.91 and a beta of 0.82.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Friday, October 30th. The company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $5.08 by $0.03. AutoNation had a return on equity of 31.18% and a net margin of 2.63%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the firm earned $5.01 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts forecast that AutoNation, Inc. will post 21.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on AN shares. Northcoast Research raised shares of AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price target for the company in a report on Tuesday, July 14th. Barclays reduced their price objective on shares of AutoNation from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company lifted their target price on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. 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, UBS Group decreased their price objective on AutoNation from $248.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $227.50.

AutoNation Company Profile

AutoNation, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of dealerships and online sales channels. The company represents a range of domestic, import and luxury automotive brands, offering passenger cars, trucks and sport utility vehicles.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision-repair services, vehicle protection products and financing options. Its retail operations include traditional dealerships as well as AutoNation USA locations, which focus primarily on used vehicles and related services.

Founded in 1996 as Republic Industries, the company adopted the AutoNation name as it developed its automotive retail business.