AutoNation, Inc. $AN Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in AutoNation by 2.3%, holding 676,568 shares valued at approximately $109.55 million.
• Several institutional investors have notably boosted their positions, with Vanguard Group Inc. raising its holdings by 7.2% and Brave Warrior Advisors LLC increasing its stake by 50.3%.
• Analysts have raised their price targets for AutoNation, with Wells Fargo setting it at $221.00 and Cfra Research giving a strong-buy rating.

Invesco Ltd. raised its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 676,568 shares of the company's stock after buying an additional 15,112 shares during the period. Invesco Ltd. owned about 1.79% of AutoNation worth $109,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of AutoNation by 25.5% during the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock worth $54,000 after buying an additional 64 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake 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 valued at $952,000 after acquiring an additional 3,001 shares in the last quarter. Cerity Partners LLC raised its stake in shares of AutoNation by 95.3% in the first quarter. Cerity Partners LLC now owns 5,247 shares of the company's stock valued at $850,000 after acquiring an additional 2,561 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of AutoNation in the fourth quarter valued at $503,000. Finally, Bessemer Group Inc. raised its stake in shares of AutoNation by 9.7% in the first quarter. Bessemer Group Inc. now owns 987 shares of the company's stock valued at $160,000 after acquiring an additional 87 shares in the last quarter. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Stock Up 0.3%

AutoNation stock traded up $0.6230 during midday trading on Thursday, reaching $210.2230. The company's stock had a trading volume of 303,339 shares, compared to its average volume of 480,253. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $217.40. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84. The company has a market cap of $7.93 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.02 and a beta of 0.89. The business has a 50-day simple moving average of $201.68 and a 200-day simple moving average of $185.49.

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

Analysts Set New Price Targets

AN has been the topic of several analyst reports. Guggenheim reduced their price objective on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded AutoNation from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Bank of America increased their price objective on AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Stephens increased their price objective on AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Cfra Research upgraded AutoNation to a "strong-buy" rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, AutoNation currently has a consensus rating of "Moderate Buy" and an average 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.