AutoNation, Inc. (NYSE:AN) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in AutoNation, Inc. (NYSE:AN) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,342 shares of the company’s stock after buying an additional 2,353 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AutoNation were worth $3,037,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AN. First United Bank & Trust bought a new position in shares of AutoNation in the fourth quarter worth $26,000. Private Wealth Management Group LLC bought a new position in AutoNation in the 4th quarter valued at about $27,000. Anchor Investment Management LLC acquired a new position in AutoNation during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in shares of AutoNation during the 4th quarter worth about $30,000. Finally, Avalon Trust Co acquired a new stake in shares of AutoNation in the 4th quarter worth approximately $32,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

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

AutoNation Trading Down 0.7 %

Shares of AN opened at $160.67 on Wednesday. The business’s 50-day moving average price is $165.53 and its 200 day moving average price is $155.01. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $6.47 billion, a P/E ratio of 7.62, a P/E/G ratio of 3.03 and a beta of 1.21. AutoNation, Inc. has a 1-year low of $123.81 and a 1-year high of $182.08.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, April 26th. The company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the previous year, the business earned $6.05 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. Analysts expect that AutoNation, Inc. will post 18.44 earnings per share for the current year.

AutoNation announced that its board has initiated a share repurchase program on Friday, April 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 14.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.