Hsbc Holdings PLC Has $636,000 Stock Position in AutoNation, Inc. $AN

Key Points

• Hsbc Holdings PLC reduced its stake in AutoNation, Inc. by 50.5%, leaving it with a total of 3,940 shares valued at approximately $636,000.
• Multiple institutional investors increased their positions in AutoNation, with notable purchases including HITE Hedge Asset Management acquiring shares worth around $3.1 million.
• Analysts have raised their price targets for AutoNation, with Bank of America setting a new target at $255.00 and maintaining a "buy" rating.

Hsbc Holdings PLC lessened its stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,940 shares of the company's stock after selling 4,026 shares during the period. Hsbc Holdings PLC's holdings in AutoNation were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. HITE Hedge Asset Management LLC purchased a new position in shares of AutoNation in the first quarter worth approximately $3,091,000. Fuller & Thaler Asset Management Inc. boosted its stake in AutoNation by 37.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 213,488 shares of the company's stock worth $34,568,000 after purchasing an additional 57,667 shares during the period. Versor Investments LP acquired a new position in AutoNation in the 1st quarter worth approximately $1,878,000. Algert Global LLC grew its position in AutoNation by 1,534.7% during the 1st quarter. Algert Global LLC now owns 38,840 shares of the company's stock worth $6,289,000 after purchasing an additional 36,464 shares in the last quarter. Finally, Ethic Inc. raised its stake in AutoNation by 1.9% during the 1st quarter. Ethic Inc. now owns 4,635 shares of the company's stock valued at $761,000 after purchasing an additional 85 shares during the period. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on AN shares. Stephens raised their target price on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Bank of America increased 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. JPMorgan Chase & Co. lifted their target price on AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley upped their target price on AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Guggenheim decreased their price target on shares of AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, AutoNation currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.25.

AutoNation Stock Down 1.6%

AN opened at $218.83 on Monday. The company has a market capitalization of $8.25 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $224.00. The business has a 50-day moving average of $205.06 and a 200-day moving average of $186.56.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.76. The firm had revenue of $6.97 billion for the quarter, compared to the consensus estimate of $6.77 billion. AutoNation had a return on equity of 31.12% and a net margin of 2.31%.The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.99 earnings per share. Equities research analysts forecast that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation Profile

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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