Denali Advisors LLC Buys 110 Shares of AutoNation, Inc. (NYSE:AN)

Denali Advisors LLC grew its position in shares of AutoNation, Inc. (NYSE:AN) by 79.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Denali Advisors LLC’s holdings in AutoNation were worth $41,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in AutoNation in the fourth quarter valued at $42,748,000. Eminence Capital LP boosted its position in shares of AutoNation by 84.4% during the 4th quarter. Eminence Capital LP now owns 261,940 shares of the company’s stock valued at $39,338,000 after purchasing an additional 119,866 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in AutoNation by 47.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock worth $51,491,000 after purchasing an additional 109,571 shares during the period. International Assets Investment Management LLC bought a new stake in AutoNation in the fourth quarter worth approximately $9,247,000. Finally, FMR LLC lifted its stake in AutoNation by 160.3% in the third quarter. FMR LLC now owns 84,743 shares of the company’s stock valued at $12,830,000 after buying an additional 52,193 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Bank of America dropped their price target 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 increased their price target on AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Evercore ISI boosted their price objective on AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company increased their target price on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.25.

AutoNation Stock Down 0.8 %

NYSE:AN traded down $1.28 on Wednesday, hitting $159.39. The stock had a trading volume of 214,996 shares, compared to its average volume of 433,609. AutoNation, Inc. has a 1 year low of $123.81 and a 1 year high of $182.08. The firm’s fifty day simple moving average is $165.53 and its two-hundred day simple moving average is $155.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79. The stock has a market cap of $6.42 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, April 26th. The company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same period last year, the business posted $6.05 earnings per share. AutoNation’s revenue was up 1.4% on a year-over-year basis. Analysts predict that AutoNation, Inc. will post 18.44 earnings per share for the current year.

AutoNation declared that its Board of Directors has authorized a share repurchase program on Friday, April 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 14.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at AutoNation

In related news, Director David B. Edelson sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $168.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now owns 48,793 shares in the company, valued at $8,197,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

About AutoNation

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.