Hsbc Holdings PLC Takes Position in AutoNation, Inc. $AN

Key Points

• HSBC Holdings purchased 18,750 AutoNation shares during the second quarter, valued at approximately $3.48 million, giving it a 0.06% stake. Institutional investors collectively own 94.62% of the company.
• Analysts maintain a favorable outlook, with 10 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $250 price target. Barclays, Morgan Stanley, Argus and Wells Fargo recently raised their targets, while JPMorgan lowered its target to $210.
• AutoNation reported quarterly earnings of $5.56 per share, beating estimates of $5.48, although revenue of $6.93 billion declined 0.6% year over year and fell short of expectations. The stock recently opened at $200.35, within its 12-month range of $176.62 to $235.81.

Hsbc Holdings PLC purchased a new stake in AutoNation, Inc. (NYSE:AN - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 18,750 shares of the company's stock, valued at approximately $3,483,000. Hsbc Holdings PLC owned about 0.06% of AutoNation as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in shares of AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after purchasing an additional 64 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in shares of AutoNation during the 3rd quarter worth $48,000. Smartleaf Asset Management LLC increased its holdings in shares of AutoNation by 49.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock worth $54,000 after buying an additional 86 shares during the last quarter. Bessemer Group Inc. raised its position in shares of AutoNation by 33.0% in the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company's stock worth $59,000 after buying an additional 76 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of AutoNation in the 2nd quarter worth $63,000. Hedge funds and other institutional investors own 94.62% of the company's stock.

Analyst Ratings Changes

AN has been the topic of several research analyst reports. Barclays lifted their price objective on AutoNation from $255.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. cut their price target on shares of AutoNation from $235.00 to $210.00 and set an "overweight" rating on the stock in a report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of AutoNation from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Argus increased their price objective on shares of AutoNation from $241.00 to $246.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of AutoNation from $202.00 to $224.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

Insider Activity at AutoNation

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

AutoNation Stock Performance

Shares of AN opened at $200.35 on Friday. The stock has a market capitalization of $6.62 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.71. The business's fifty day moving average price is $201.30 and its 200 day moving average price is $197.40. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18. 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 announced its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share for the quarter, topping analysts' consensus estimates of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $7 billion. During the same period in the prior year, the firm earned $2.26 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that AutoNation, Inc. will post 21.69 EPS for the current year.

AutoNation Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source