Westpac Banking Corp boosted its position in shares of AutoNation Inc. (NYSE:AN) by 36.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,861 shares of the company’s stock after buying an additional 1,024 shares during the period. Westpac Banking Corp’s holdings in AutoNation were worth $181,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Orbis Allan Gray Ltd bought a new stake in AutoNation during the first quarter valued at approximately $40,182,000. State Street Corp boosted its stake in AutoNation by 0.3% in the first quarter. State Street Corp now owns 3,278,314 shares of the company’s stock valued at $153,021,000 after buying an additional 9,482 shares in the last quarter. Creative Planning boosted its stake in AutoNation by 36.1% in the second quarter. Creative Planning now owns 2,730 shares of the company’s stock valued at $128,000 after buying an additional 724 shares in the last quarter. BlackRock Group LTD boosted its stake in AutoNation by 0.7% in the first quarter. BlackRock Group LTD now owns 568,023 shares of the company’s stock valued at $26,516,000 after buying an additional 4,051 shares in the last quarter. Finally, Amici Capital LLC bought a new stake in AutoNation during the first quarter valued at approximately $4,200,000. 69.12% of the stock is owned by institutional investors and hedge funds.
AutoNation Inc. (NYSE:AN) opened at 49.27 on Monday. AutoNation Inc. has a 52-week low of $40.45 and a 52-week high of $65.51. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.68 and a beta of 1.10. The stock’s 50 day moving average price is $48.32 and its 200 day moving average price is $48.56.
AutoNation (NYSE:AN) last posted its earnings results on Friday, July 29th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. AutoNation had a return on equity of 19.91% and a net margin of 1.99%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $1.00 EPS. AutoNation’s revenue was up 4.2% on a year-over-year basis. On average, analysts forecast that AutoNation Inc. will post $4.26 EPS for the current year.
AN has been the subject of several recent analyst reports. CL King initiated coverage on AutoNation in a research note on Wednesday, September 7th. They set a “buy” rating for the company. TheStreet raised AutoNation from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Jefferies Group raised their target price on AutoNation from $50.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. raised AutoNation from a “sell” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $49.00 in a research note on Thursday. They noted that the move was a valuation call. Finally, Seaport Global Securities initiated coverage on AutoNation in a research note on Tuesday, August 9th. They set a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.43.
AutoNation Company Profile
AutoNation, Inc 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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