Ieq Capital LLC Acquires Shares of 8,948 AutoNation, Inc. $AN

Key Points

• Ieq Capital LLC has invested approximately $1.45 million in AutoNation, purchasing nearly 8,948 shares in the 1st quarter, reflecting growing institutional interest in the automotive retailer.
• AutoNation's stock received mixed reviews from analysts, with a consensus price target set at $223.25 and varying ratings from "Strong Buy" to "Hold."
• Despite recent fluctuations, AutoNation reported a quarterly earnings beat with an EPS of $5.46, surpassing analysts' expectations and showing a 7.6% increase in revenue compared to the previous year.

Ieq Capital LLC purchased a new stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,948 shares of the company's stock, valued at approximately $1,449,000.

Several other institutional investors have also recently made changes to their positions in AN. Cambridge Investment Research Advisors Inc. raised its position in AutoNation by 0.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,580 shares of the company's stock valued at $1,227,000 after purchasing an additional 67 shares during the period. SummerHaven Investment Management LLC raised its position in AutoNation by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 4,918 shares of the company's stock valued at $796,000 after purchasing an additional 77 shares during the period. ProShare Advisors LLC raised its position in AutoNation by 7.2% in the fourth quarter. ProShare Advisors LLC now owns 1,223 shares of the company's stock valued at $208,000 after purchasing an additional 82 shares during the period. Ethic Inc. raised its position in AutoNation by 1.9% in the first 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. Finally, Bessemer Group Inc. raised its position in AutoNation by 9.7% in the first quarter. Bessemer Group Inc. now owns 987 shares of the company's stock valued at $160,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 94.62% of the company's stock.

Analyst Upgrades and Downgrades

AN has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Bank of America boosted their price target on shares of 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. boosted their price target on shares of AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Stephens boosted their price target on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, AutoNation has a consensus rating of "Moderate Buy" and an average price target of $223.25.

AutoNation Stock Up 0.4%

NYSE:AN traded up $0.88 during trading hours on Friday, hitting $226.54. The company's stock had a trading volume of 437,408 shares, compared to its average volume of 331,494. The stock has a market capitalization of $8.54 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.11 and a beta of 0.89. The stock has a fifty day moving average of $207.32 and a 200-day moving average of $187.64. 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, Inc. has a 52-week low of $148.33 and a 52-week high of $228.92.

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