Legal & General Group Plc Acquires 1,801 Shares of AutoNation, Inc. $AN

by · The Markets Daily

Legal & General Group Plc grew its holdings in AutoNation, Inc. (NYSE:AN – Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,605 shares of the company’s stock after purchasing an additional 1,801 shares during the quarter. Legal & General Group Plc owned approximately 0.18% of AutoNation worth $13,827,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Paradigm Asset Management Co. LLC purchased a new stake in shares of AutoNation during the second quarter valued at about $1,251,000. 111 Capital purchased a new position in shares of AutoNation in the 2nd quarter worth approximately $208,000. Allworth Financial LP raised its stake in shares of AutoNation by 873.3% during the 2nd quarter. Allworth Financial LP now owns 4,886 shares of the company’s stock worth $971,000 after acquiring an additional 4,384 shares in the last quarter. Voya Investment Management LLC lifted its position in AutoNation by 2.9% during the first quarter. Voya Investment Management LLC now owns 3,176 shares of the company’s stock valued at $514,000 after acquiring an additional 89 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in AutoNation by 78.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,476 shares of the company’s stock valued at $2,226,000 after acquiring an additional 4,594 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Stock Up 0.3%

Shares of AN stock opened at $211.29 on Friday. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The firm has a market capitalization of $7.71 billion, a PE ratio of 12.43, a P/E/G ratio of 0.91 and a beta of 0.87. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79. The stock’s 50-day simple moving average is $208.11 and its 200-day simple moving average is $204.53.

AutoNation (NYSE:AN – Get Free Report) last issued its earnings results on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.16. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same quarter in the prior year, the firm earned $4.02 earnings per share. AutoNation’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation declared that its Board of Directors has initiated a stock buyback program on Friday, October 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AutoNation in a research report on Tuesday. Citigroup increased their price target on AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company dropped their price target on AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Finally, Barclays began coverage on shares of AutoNation in a report on Tuesday, November 11th. They set an “overweight” rating and a $250.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, AutoNation has an average rating of “Moderate Buy” and an average price target of $243.11.

Get Our Latest Stock Analysis on AN

AutoNation Profile

(Free Report)

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.

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