AutoNation, Inc. (NYSE:AN) Short Interest Up 20.2% in March

Key Points

• Short interest rose 20.2% in March to 2,168,113 shares, equal to about 6.4% of the company's stock and a short-interest ratio of 4.8 days.
• AutoNation beat EPS estimates with $5.08 for the quarter but missed revenue at $6.93 billion (down 3.9% YoY); the stock recently traded at $208.08 with a market cap of $7.14 billion and a P/E of 12.2.
• Institutional investors own roughly 94.62% of the stock, and analysts have a consensus rating of “Moderate Buy” with an average price target of $244.33 amid several recent target adjustments.

AutoNation, Inc. (NYSE:AN - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 2,168,113 shares, a growth of 20.2% from the March 15th total of 1,804,428 shares. Based on an average daily trading volume, of 447,832 shares, the short-interest ratio is presently 4.8 days. Approximately 6.4% of the company's stock are sold short.

AutoNation Stock Performance

Shares of AutoNation stock traded up $9.79 during trading on Friday, hitting $208.08. 331,863 shares of the stock were exchanged, compared to its average volume of 379,867. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. The company has a fifty day moving average price of $195.86 and a 200-day moving average price of $204.73. AutoNation has a 1-year low of $155.29 and a 1-year high of $228.92. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 2.39.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings data on Friday, February 6th. The company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.91 by $0.17. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. AutoNation had a net margin of 2.35% and a return on equity of 31.69%. AutoNation's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.97 EPS. As a group, equities analysts predict that AutoNation will post 18.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in shares of AutoNation by 0.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company's stock worth $1,960,000 after acquiring an additional 52 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of AutoNation by 0.9% during the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company's stock worth $1,170,000 after acquiring an additional 53 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of AutoNation by 0.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company's stock worth $1,376,000 after acquiring an additional 55 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of AutoNation by 13.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company's stock worth $114,000 after acquiring an additional 61 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of AutoNation by 3.2% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company's stock worth $454,000 after acquiring an additional 64 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AN. Wells Fargo & Company lowered their price target on shares of AutoNation from $230.00 to $207.00 and set an "equal weight" rating on the stock in a research note on Monday. Citigroup lowered their price target on shares of AutoNation from $280.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Barclays lowered their price target on shares of AutoNation from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. raised AutoNation from a "neutral" rating to an "overweight" rating and set a $235.00 price target on the stock in a research report on Friday, January 16th. Finally, Stephens boosted their price target on AutoNation from $228.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.33.

About AutoNation

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.

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