335,717 Shares in AutoNation, Inc. $AN Bought by Norges Bank

Key Points

• Norges Bank bought 335,717 shares of AutoNation in the fourth quarter, a position valued at about $69.3 million and equal to roughly 0.92% of the company.
• AutoNation reported mixed quarterly results, with EPS of $4.69 slightly below estimates and revenue of $6.55 billion also missing expectations. Revenue fell 2.1% year over year.
• Analysts remain broadly positive on the stock, with nine Buy ratings and an average target price of $246.90, despite the shares trading below recent moving averages and at $188.14 on Friday.

Norges Bank bought a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 335,717 shares of the company's stock, valued at approximately $69,319,000. Norges Bank owned approximately 0.92% of AutoNation as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Private Wealth Services LLC boosted its stake in AutoNation by 0.9% during the third 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 in the last quarter. CIBC Private Wealth Group LLC boosted its stake in AutoNation by 13.3% during the third quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company's stock worth $114,000 after acquiring an additional 61 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in AutoNation by 3.2% during the third quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company's stock worth $454,000 after acquiring an additional 64 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock worth $38,000 after acquiring an additional 64 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in AutoNation by 7.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,192 shares of the company's stock worth $237,000 after acquiring an additional 78 shares in the last quarter. 94.62% of the stock is owned by institutional investors.

AutoNation Stock Down 0.0%

AutoNation stock opened at $188.14 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62. The firm's fifty day moving average price is $196.41 and its two-hundred day moving average price is $202.09. AutoNation, Inc. has a 1-year low of $176.62 and a 1-year high of $228.92. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.00 and a beta of 0.74.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the previous year, the business earned $4.68 earnings per share. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts predict that AutoNation, Inc. will post 21.19 earnings per share for the current fiscal year.

Insider Buying and Selling at AutoNation

In related news, CAO Kimberly Dees sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total transaction of $512,275.00. Following the transaction, the chief accounting officer directly owned 1,456 shares of the company's stock, valued at $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of AutoNation from $207.00 to $208.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Citigroup raised their price objective on shares of AutoNation from $269.00 to $287.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Barclays raised their price objective on shares of AutoNation from $240.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Bank of America started coverage on shares of AutoNation in a research note on Wednesday, March 4th. They issued a "buy" rating on the stock. Finally, UBS Group started coverage on shares of AutoNation in a research note on Wednesday, May 27th. They issued a "buy" rating and a $234.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $246.90.

AutoNation Company Profile

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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