BlackRock Inc. Takes Position in AutoNation, Inc. $AN

Key Points

• BlackRock acquired a 7.14% stake in AutoNation, purchasing 2.36 million shares valued at approximately $438.7 million. Institutional investors collectively own 94.62% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $250; recent targets range from $232 to $260.
• AutoNation exceeded quarterly earnings expectations, reporting $5.56 in EPS versus the $5.48 consensus, although revenue declined 0.6% year over year to $6.93 billion.

BlackRock Inc. bought a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,361,210 shares of the company's stock, valued at approximately $438,689,000. BlackRock Inc. owned 7.14% of AutoNation at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brandywine Global Investment Management LLC lifted its holdings in AutoNation by 27.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 57,269 shares of the company's stock valued at $11,825,000 after purchasing an additional 12,210 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of AutoNation during the fourth quarter worth about $6,443,000. Evolve Private Wealth LLC purchased a new stake in shares of AutoNation during the fourth quarter worth about $4,077,000. Intech Investment Management LLC raised its position in shares of AutoNation by 180.1% during the 4th quarter. Intech Investment Management LLC now owns 13,206 shares of the company's stock worth $2,727,000 after purchasing an additional 8,491 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of AutoNation during the 4th quarter worth about $2,247,000. Hedge funds and other institutional investors own 94.62% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AN shares. Stephens lifted their price objective on AutoNation from $220.00 to $232.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Northcoast Research raised AutoNation from a "neutral" rating to a "buy" rating and set a $240.00 target price for the company in a report on Tuesday, July 14th. Seaport Research Partners restated a "buy" rating and issued a $255.00 target price on shares of AutoNation in a research report on Monday, August 3rd. Barclays boosted their price target on AutoNation from $255.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded AutoNation from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

Insider Activity at AutoNation

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the sale, the director directly owned 7,989 shares in the company, valued at approximately $1,757,580. The trade was a 10.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

AutoNation Price Performance

Shares of AN stock opened at $196.55 on Wednesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18. The company has a market capitalization of $6.50 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.81 and a beta of 0.71. The firm's 50-day moving average is $200.66 and its two-hundred day moving average is $197.57. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The business had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the prior year, the company posted $2.26 EPS. The business's revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that AutoNation, Inc. will post 21.69 earnings per share for the current year.

About AutoNation

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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