Empowered Funds LLC Reduces Stock Position in AutoNation, Inc. $AN

Key Points

• Empowered Funds LLC reduced its shares in AutoNation by 9.6% in the first quarter, holding approximately 0.05% of the company worth $3.14 million after selling over 2,000 shares.
• AutoNation reported an EPS of $5.46 for the last quarter, surpassing estimates, and its revenue increased by 7.6% year-over-year to $6.97 billion.
• Multiple analysts adjusted their price targets for AutoNation, with consensus now at $222.63, reflecting a "Moderate Buy" rating from the market.

Empowered Funds LLC lowered its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,397 shares of the company's stock after selling 2,058 shares during the quarter. Empowered Funds LLC owned about 0.05% of AutoNation worth $3,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AN. Curat Global LLC bought a new position in shares of AutoNation in the first quarter worth approximately $36,000. GAMMA Investing LLC raised its position in AutoNation by 81.1% in the first quarter. GAMMA Investing LLC now owns 460 shares of the company's stock worth $74,000 after acquiring an additional 206 shares during the period. SVB Wealth LLC bought a new position in AutoNation in the first quarter worth approximately $86,000. UMB Bank n.a. raised its position in AutoNation by 56.8% in the first quarter. UMB Bank n.a. now owns 839 shares of the company's stock worth $136,000 after acquiring an additional 304 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in AutoNation by 762.6% in the first quarter. Exchange Traded Concepts LLC now owns 923 shares of the company's stock worth $149,000 after acquiring an additional 816 shares during the period. Hedge funds and other institutional investors own 94.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Wall Street Zen downgraded shares of AutoNation from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley increased their price target on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Bank of America decreased their price target on shares of AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Finally, Guggenheim reduced their price objective on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $222.63.

AutoNation Price Performance

AN traded down $1.98 during trading on Monday, hitting $220.00. 426,194 shares of the company traded hands, compared to its average volume of 386,340. The company has a market cap of $8.30 billion, a PE ratio of 13.78, a P/E/G ratio of 1.02 and a beta of 0.88. The stock's 50-day simple moving average is $209.22 and its two-hundred day simple moving average is $189.41. AutoNation, Inc. has a 1 year low of $148.33 and a 1 year high of $228.92. 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 posted its earnings results on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.76. The company had revenue of $6.97 billion during the quarter, compared to analysts' expectations of $6.77 billion. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. AutoNation's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $3.99 earnings per share. As a group, sell-side 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.