CCM Investment Group LLC Buys Shares of 3,189 AutoNation, Inc. (NYSE:AN)

Key Points

• CCM Investment Group LLC acquired a new stake in AutoNation, purchasing 3,189 shares valued at approximately $507,000 during the first quarter.
• Analysts have been increasingly bullish on AutoNation, with price targets raised by multiple firms, including Bank of America, which has set a new target of $255 and a "buy" rating.
• AutoNation reported a 7.6% year-over-year revenue increase for the last quarter, with earnings per share of $5.46, surpassing analysts' expectations of $4.70.

CCM Investment Group LLC bought a new stake in AutoNation, Inc. (NYSE:AN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,189 shares of the company's stock, valued at approximately $507,000.

A number of other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in AutoNation by 25.5% in the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company's stock valued at $54,000 after purchasing an additional 64 shares in the last quarter. 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 boosted its position in AutoNation by 0.6% during 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 acquiring an additional 70 shares during the last quarter. SummerHaven Investment Management LLC boosted its position 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 acquiring an additional 77 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in AutoNation by 7.2% during the 4th quarter. ProShare Advisors LLC now owns 1,223 shares of the company's stock valued at $208,000 after acquiring an additional 82 shares in the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stephens boosted their target price on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Bank of America boosted their price objective on AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Citigroup raised AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. Cfra Research upgraded AutoNation to a "strong-buy" rating in a report on Friday, April 25th. Finally, Wall Street Zen raised 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 issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.13.

AutoNation Stock Up 0.9%

Shares of NYSE:AN opened at $196.12 on Monday. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.98 and a beta of 0.89. AutoNation, Inc. has a 12-month low of $148.33 and a 12-month high of $217.40. The business has a 50-day moving average price of $198.17 and a 200 day moving average price of $184.19. The company has a current ratio of 0.81, a quick ratio of 0.21 and a debt-to-equity ratio of 1.84.

AutoNation (NYSE:AN - Get Free Report) last announced 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 net margin of 2.31% and a return on equity of 31.12%. The business had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same period last year, the business earned $3.99 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts expect that AutoNation, Inc. will post 18.15 EPS for the current 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.

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