Goldman Sachs Group Inc. Reduces Holdings in AutoNation, Inc. (NYSE:AN)

Goldman Sachs Group Inc. decreased its position in shares of AutoNation, Inc. (NYSE:AN) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,549 shares of the company’s stock after selling 22,480 shares during the period. Goldman Sachs Group Inc. owned about 0.42% of AutoNation worth $26,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in AutoNation during the 4th quarter worth $26,000. Private Wealth Management Group LLC purchased a new stake in AutoNation during the 4th quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in AutoNation during the 4th quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in AutoNation during the 4th quarter worth $30,000. Finally, Avalon Trust Co purchased a new stake in AutoNation during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AN. Wells Fargo & Company raised their price objective on shares of AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Evercore ISI raised their price objective on shares of AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Guggenheim raised their price objective on shares of AutoNation from $169.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. raised their price objective on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Bank of America decreased their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus price target of $183.25.

AutoNation Trading Down 0.8 %

NYSE AN opened at $160.47 on Monday. AutoNation, Inc. has a one year low of $123.81 and a one year high of $182.08. The firm has a market capitalization of $6.46 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 3.08 and a beta of 1.21. The company has a 50-day simple moving average of $164.98 and a 200-day simple moving average of $154.11. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79.

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

AutoNation announced that its Board of Directors has approved a stock buyback plan on Friday, April 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 14.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at AutoNation

In related news, Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.74% of the stock is owned by insiders.

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.