AutoNation, Inc. (NYSE:AN) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC boosted its position in shares of AutoNation, Inc. (NYSE:AN) by 79.7% during the first quarter, Holdings Channel.com reports. The firm owned 248 shares of the company’s stock after buying an additional 110 shares during the quarter. Denali Advisors LLC’s holdings in AutoNation were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AN. First United Bank & Trust acquired a new position in shares of AutoNation in the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of AutoNation during the fourth quarter worth $27,000. Anchor Investment Management LLC acquired a new stake in shares of AutoNation in the fourth quarter valued at $28,000. Riverview Trust Co purchased a new stake in shares of AutoNation in the 1st quarter valued at $33,000. Finally, Jones Financial Companies Lllp acquired a new position in AutoNation during the 4th quarter worth about $30,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AN. JPMorgan Chase & Co. upped their target price 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 reduced their price objective on AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Guggenheim boosted their target price on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Evercore ISI lifted their price objective on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, June 10th. Finally, Wells Fargo & Company upped their target price on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and an average price target of $183.25.

Insider Buying and Selling at AutoNation

In other AutoNation news, Director David B. Edelson sold 10,000 shares of AutoNation stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now owns 48,793 shares in the company, valued at approximately $8,197,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by insiders.

AutoNation Price Performance

Shares of NYSE:AN traded down $1.28 during midday trading on Wednesday, hitting $159.39. 214,996 shares of the stock were exchanged, compared to its average volume of 433,609. AutoNation, Inc. has a twelve month low of $123.81 and a twelve month high of $182.08. 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 company has a 50 day moving average price of $165.53 and a 200-day moving average price of $155.01. The stock has a market cap of $6.42 billion, a P/E ratio of 7.66, a PEG ratio of 3.03 and a beta of 1.21.

AutoNation (NYSE:AN) last announced its earnings results on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the business posted $6.05 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts forecast that AutoNation, Inc. will post 18.44 earnings per share for the current year.

AutoNation announced that its Board of Directors has authorized a stock repurchase plan on Friday, April 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 14.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

AutoNation 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.