Zurcher Kantonalbank Zurich Cantonalbank held its stake in shares of AutoNation, Inc. (NYSE:AN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,593 shares of the company’s stock at the close of the second quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AutoNation were worth $573,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AN. Nordea Investment Management AB grew its position in AutoNation by 43.8% in the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after acquiring an additional 1,000 shares during the period. DekaBank Deutsche Girozentrale grew its position in AutoNation by 178.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,454 shares of the company’s stock worth $198,000 after acquiring an additional 2,854 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in AutoNation in the first quarter worth approximately $206,000. Achmea Investment Management B.V. purchased a new position in AutoNation in the first quarter worth approximately $209,000. Finally, Invictus RG grew its position in AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after acquiring an additional 1,833 shares during the period. Institutional investors own 73.44% of the company’s stock.
Several brokerages recently weighed in on AN. BidaskClub upgraded AutoNation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Buckingham Research lowered their price objective on AutoNation from $44.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $43.00 price objective (down from $46.00) on shares of AutoNation in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price objective on shares of AutoNation in a research report on Sunday. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $45.00 price objective (down from $48.50) on shares of AutoNation in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.70.
AutoNation, Inc. (AN) opened at 45.80 on Wednesday. The stock’s 50 day moving average price is $42.35 and its 200 day moving average price is $41.96. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $53.74. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 11.40 and a beta of 1.22.
AutoNation (NYSE:AN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts forecast that AutoNation, Inc. will post $3.59 EPS for the current year.
AutoNation announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 29th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director Robert R. Grusky sold 2,800 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.99, for a total transaction of $109,172.00. Following the completion of the sale, the director now directly owns 30,713 shares of the company’s stock, valued at approximately $1,197,499.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by insiders.
AutoNation Company Profile
AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.
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