Bayforest Capital Ltd Makes New $242,000 Investment in AutoNation, Inc. (NYSE:AN)

Key Points

• Bayforest Capital Ltd has invested approximately $242,000 in AutoNation, acquiring 1,494 shares during the first quarter.
• AutoNation reported $5.46 EPS for the latest quarter, exceeding analyst estimates of $4.70, and its revenue increased by 7.6% year-over-year.
• The majority of AutoNation's stock, 94.62%, is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Bayforest Capital Ltd bought a new position in AutoNation, Inc. (NYSE:AN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,494 shares of the company's stock, valued at approximately $242,000.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of AutoNation by 25.5% in the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock valued at $54,000 after purchasing an additional 64 shares during the period. Cambridge Investment Research Advisors Inc. lifted 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 buying an additional 67 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of AutoNation by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 11,171 shares of the company's stock worth $1,897,000 after buying an additional 70 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in AutoNation by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 4,918 shares of the company's stock worth $796,000 after purchasing an additional 77 shares during the period. Finally, ProShare Advisors LLC raised its stake in AutoNation by 7.2% during the fourth quarter. ProShare Advisors LLC now owns 1,223 shares of the company's stock worth $208,000 after purchasing an additional 82 shares during the period. Institutional investors own 94.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AN. Wells Fargo & Company boosted their price target on shares of AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Citigroup raised shares of AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday. Stephens upped their target price on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of AutoNation from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $215.13.

AutoNation Stock Up 2.8%

Shares of AutoNation stock traded up $5.21 during trading hours on Tuesday, hitting $194.48. The company had a trading volume of 302,925 shares, compared to its average volume of 491,053. The company's 50-day moving average is $197.23 and its two-hundred day moving average is $183.89. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $217.40. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. The company has a market cap of $7.33 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89.

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, beating the consensus estimate 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 quarter in the prior year, the firm earned $3.99 EPS. AutoNation's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal 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.