BNP Paribas Financial Markets Cuts Stake in AutoNation, Inc. $AN

Key Points

• BNP Paribas Financial Markets cut its AutoNation stake by 48.6% in the fourth quarter, leaving it with 44,467 shares worth about $9.18 million.
• Analysts remain broadly positive on AutoNation, with nine Buy ratings and a consensus price target of $246.90. Recent calls from Morgan Stanley, UBS, and Barclays all carried bullish ratings or higher targets.
• AutoNation posted mixed quarterly results, with EPS of $4.69 missing estimates by a penny and revenue of $6.55 billion coming in below expectations. Shares opened at $185.78, below the stock’s 52-week high of $228.92.

BNP Paribas Financial Markets lowered its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,467 shares of the company's stock after selling 42,089 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.12% of AutoNation worth $9,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in AutoNation by 355.3% during the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company's stock valued at $38,000 after buying an additional 135 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in AutoNation during the fourth quarter valued at approximately $41,000. Employees Retirement System of Texas bought a new position in AutoNation during the third quarter valued at approximately $48,000. Geneos Wealth Management Inc. boosted its stake in AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after buying an additional 64 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in AutoNation by 126.1% during the third quarter. Hantz Financial Services Inc. now owns 251 shares of the company's stock valued at $55,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley reissued an "overweight" rating and set a $240.00 price target on shares of AutoNation in a research note on Thursday, May 7th. UBS Group assumed coverage on AutoNation in a research note on Wednesday, May 27th. They set a "buy" rating and a $234.00 price target for the company. Barclays increased their price target on AutoNation from $240.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings raised AutoNation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on AutoNation from $207.00 to $208.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, AutoNation currently has an average rating of "Moderate Buy" and a consensus price target of $246.90.

AutoNation Price Performance

Shares of AN stock opened at $185.78 on Tuesday. AutoNation, Inc. has a twelve month low of $176.62 and a twelve month high of $228.92. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 1.00 and a beta of 0.74. The stock has a fifty day simple moving average of $196.23 and a two-hundred day simple moving average of $202.06. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62.

AutoNation (NYSE:AN - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.71 by ($0.02). AutoNation had a return on equity of 31.45% and a net margin of 2.47%.The firm had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.65 billion. During the same quarter in the prior year, the company posted $4.68 earnings per share. AutoNation's quarterly revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that AutoNation, Inc. will post 21.19 EPS for the current fiscal year.

Insider Activity at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the transaction, the chief accounting officer directly owned 1,456 shares of the company's stock, valued at approximately $298,348.96. The trade was a 63.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

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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