American Century Companies Inc. Reduces Stock Position in AutoNation, Inc. $AN

Key Points

• American Century Companies Inc. reduced its stake in AutoNation, Inc. by 6.1% during the first quarter, holding 18,745 shares valued at $3,035,000 after selling 1,211 shares.
• AutoNation recently reported earnings of $5.46 per share, surpassing analysts' expectations of $4.70, with revenue of $6.97 billion showing a year-over-year increase of 7.6%.
• Wall Street analysts have positive forecasts for AutoNation, with a consensus rating of "Moderate Buy" and a target price of $223.25.

American Century Companies Inc. lessened its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,745 shares of the company's stock after selling 1,211 shares during the quarter. American Century Companies Inc.'s holdings in AutoNation were worth $3,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AN. NewEdge Advisors LLC grew its stake in AutoNation by 25.5% in the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after purchasing an additional 64 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of AutoNation by 0.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,580 shares of the company's stock worth $1,227,000 after acquiring an additional 67 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of AutoNation by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 4,918 shares of the company's stock worth $796,000 after acquiring an additional 77 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of AutoNation by 7.2% during the fourth quarter. ProShare Advisors LLC now owns 1,223 shares of the company's stock valued at $208,000 after purchasing an additional 82 shares in the last quarter. Finally, Ethic Inc. lifted its holdings in shares of AutoNation by 1.9% during the first quarter. Ethic Inc. now owns 4,635 shares of the company's stock valued at $761,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 94.62% of the company's stock.

AutoNation Stock Up 2.0%

Shares of AutoNation stock traded up $4.41 during trading on Thursday, hitting $224.70. 201,576 shares of the stock traded hands, compared to its average volume of 474,364. The firm has a market cap of $8.47 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.89. The company has a current ratio of 0.81, a quick ratio of 0.21 and a debt-to-equity ratio of 1.84. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $224.90. The stock's fifty day simple moving average is $206.25 and its 200 day simple moving average is $187.20.

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

Analyst Upgrades and Downgrades

AN has been the topic of a number of recent research reports. Guggenheim lowered their target price on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Stephens raised their price objective on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Bank of America increased their target price on AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company increased their target price on AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. raised their price target on AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $223.25.

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.