Allianz Asset Management GmbH Has $34 Million Stake in AutoNation, Inc. $AN

Key Points

• Allianz Asset Management GmbH increased its stake in AutoNation, Inc. by 26.1%, owning 171,130 shares worth approximately $34 million as of its latest SEC filing.
• AutoNation's quarterly earnings outperformed expectations, reporting $5.46 EPS compared to estimates of $4.70, and revenue of $6.97 billion, exceeding the prediction of $6.77 billion.
• Analysts have varied ratings on AutoNation, with an average target price of $225.63, despite recent downgrades from some equity research firms.

Allianz Asset Management GmbH raised its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 26.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,130 shares of the company's stock after buying an additional 35,376 shares during the quarter. Allianz Asset Management GmbH owned 0.45% of AutoNation worth $33,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AutoNation by 104.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,882 shares of the company's stock worth $952,000 after acquiring an additional 3,001 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of AutoNation by 95.3% in the first quarter. Cerity Partners LLC now owns 5,247 shares of the company's stock worth $850,000 after acquiring an additional 2,561 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of AutoNation by 9.7% in the first quarter. Bessemer Group Inc. now owns 987 shares of the company's stock worth $160,000 after acquiring an additional 87 shares in the last quarter. 111 Capital bought a new stake in shares of AutoNation in the second quarter worth about $208,000. Finally, Voya Investment Management LLC increased its holdings in shares of AutoNation by 2.9% in the first quarter. Voya Investment Management LLC now owns 3,176 shares of the company's stock worth $514,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Stock Up 0.4%

NYSE:AN opened at $214.53 on Friday. The stock has a 50-day simple moving average of $217.86 and a 200 day simple moving average of $197.84. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $228.92. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81. The company has a market cap of $8.09 billion, a PE ratio of 13.44, a PEG ratio of 1.00 and a beta of 0.85.

AutoNation (NYSE:AN - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, beating the consensus estimate of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The firm had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same period in the prior year, the firm posted $3.99 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AN shares. Guggenheim lowered their price target on AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday, August 11th. Weiss Ratings downgraded AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on AutoNation from $205.00 to $230.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Wells Fargo & Company decreased their price objective on AutoNation from $221.00 to $220.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Wall Street Zen downgraded AutoNation from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average target price of $225.63.

AutoNation Company Profile

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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