AutoNation, Inc. $AN Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its AutoNation stake in Q1, boosting holdings by 4,709.3% to 21,834 shares valued at about $4.26 million.
• AutoNation reported Q1 earnings of $4.69 per share, narrowly missing expectations, while revenue came in at $6.55 billion versus estimates of $6.65 billion and declined 2.1% year over year.
• Wall Street sentiment remains constructive: several firms raised price targets, and AutoNation now has a Moderate Buy consensus with a target price of $246.18, despite the stock trading down 1.5% in the session cited.

Fifth Third Bancorp lifted its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 4,709.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,834 shares of the company's stock after buying an additional 21,380 shares during the period. Fifth Third Bancorp owned approximately 0.06% of AutoNation worth $4,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Grove Bank & Trust acquired a new stake in shares of AutoNation in the fourth quarter valued at approximately $4,130,000. Brandywine Global Investment Management LLC grew its stake in AutoNation by 27.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company's stock worth $11,825,000 after buying an additional 12,210 shares during the period. Leonteq Securities AG acquired a new stake in shares of AutoNation in the fourth quarter valued at about $2,247,000. WINTON GROUP Ltd purchased a new stake in AutoNation during the 4th quarter worth $6,443,000. Finally, Intech Investment Management LLC raised its position in shares of AutoNation by 180.1% in the 4th quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock valued at $2,727,000 after purchasing an additional 8,491 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Stock Down 1.5%

Shares of AN opened at $205.95 on Friday. The business's fifty day moving average price is $191.19 and its two-hundred day moving average price is $198.47. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.20 and a current ratio of 0.81. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.87 and a beta of 0.75. AutoNation, Inc. has a 52 week low of $176.62 and a 52 week high of $228.92.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.68 earnings per share. On average, analysts predict that AutoNation, Inc. will post 21.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on AN. Northcoast Research raised shares of AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 price objective for the company in a report on Tuesday, July 14th. UBS Group started coverage on shares of AutoNation in a report on Wednesday, May 27th. They issued a "buy" rating and a $234.00 price target for the company. Citigroup raised their target price on shares of AutoNation from $269.00 to $287.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Barclays boosted their price target on shares of AutoNation from $255.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Weiss Ratings raised shares of AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, AutoNation currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.18.

Insiders Place Their Bets

In other AutoNation news, CAO Kimberly Dees sold 2,500 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total value of $512,275.00. Following the transaction, the chief accounting officer owned 1,456 shares of the company's stock, valued at approximately $298,348.96. This represents a 63.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

AutoNation 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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