AutoNation, Inc. $AN Shares Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in AutoNation, Inc. by 78.1%, acquiring a total of 10,476 shares valued at approximately $2.23 million.
• Analysts have a diversified outlook on AutoNation shares, with target prices ranging from $185.00 to $230.00 and an average rating of "Moderate Buy".
• AutoNation reported earnings of $5.46 per share, surpassing estimates and demonstrating a 7.6% year-over-year increase in revenue for the latest quarter.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 78.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,476 shares of the company's stock after buying an additional 4,594 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AutoNation were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curat Global LLC acquired a new position in AutoNation during the first quarter worth about $36,000. Geneos Wealth Management Inc. increased its holdings in AutoNation by 37.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after acquiring an additional 64 shares in the last quarter. GAMMA Investing LLC increased its holdings in AutoNation by 81.1% during the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $74,000 after acquiring an additional 206 shares in the last quarter. Parallel Advisors LLC increased its holdings in AutoNation by 45.3% during the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company's stock valued at $74,000 after acquiring an additional 117 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in AutoNation during the 1st quarter valued at about $86,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AN shares. JPMorgan Chase & Co. raised their target price on shares of AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of AutoNation from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Guggenheim dropped their target price on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday, August 11th. Stephens raised their target price on shares of AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley raised their target price on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, AutoNation presently has an average rating of "Moderate Buy" and an average price target of $222.63.

AutoNation Price Performance

AutoNation stock opened at $217.50 on Monday. AutoNation, Inc. has a 1 year low of $148.33 and a 1 year high of $228.92. The firm has a 50 day moving average price of $211.32 and a 200 day moving average price of $192.61. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.00 and a beta of 0.88. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81.

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

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.

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