Janney Montgomery Scott LLC Grows Stock Holdings in AutoNation, Inc. $AN

Key Points

• Janney Montgomery Scott LLC increased its AutoNation stake by 40.7% in the first quarter, ending with 39,914 shares worth about $7.8 million.
• AutoNation’s latest quarterly results slightly missed analyst expectations, with EPS of $4.69 versus $4.71 expected and revenue of $6.55 billion versus $6.65 billion forecast.
• Despite the mixed earnings report, Wall Street sentiment remains positive: analysts rate the stock a Moderate Buy on average, with a consensus price target of $246.90.

Janney Montgomery Scott LLC boosted its stake in AutoNation, Inc. (NYSE:AN - Free Report) by 40.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,914 shares of the company's stock after acquiring an additional 11,536 shares during the period. Janney Montgomery Scott LLC owned 0.12% of AutoNation worth $7,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its stake in shares of AutoNation by 5.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,217 shares of the company's stock valued at $823,000 after purchasing an additional 231 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of AutoNation during the first quarter worth approximately $1,464,000. Ritholtz Wealth Management raised its stake in shares of AutoNation by 1.2% during the first quarter. Ritholtz Wealth Management now owns 10,089 shares of the company's stock worth $1,970,000 after purchasing an additional 119 shares during the last quarter. OP Asset Management Ltd acquired a new stake in shares of AutoNation during the first quarter worth $635,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AutoNation by 1,043.7% during the first quarter. Assenagon Asset Management S.A. now owns 31,635 shares of the company's stock worth $6,177,000 after purchasing an additional 28,869 shares during the period. 94.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoNation

In other news, CAO Kimberly Dees sold 2,500 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $204.91, for a total value of $512,275.00. Following the completion of the transaction, the chief accounting officer owned 1,456 shares in the company, valued at $298,348.96. This trade represents a 63.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

AutoNation Trading Down 0.0%

Shares of AN stock opened at $186.34 on Friday. The business's fifty day moving average price is $192.85 and its 200 day moving average price is $199.33. AutoNation, Inc. has a 1-year low of $176.62 and a 1-year high of $228.92. The firm has a market capitalization of $6.23 billion, a PE ratio of 10.09, a P/E/G ratio of 0.99 and a beta of 0.75. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.81 and a quick ratio of 0.20.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $4.69 EPS for the quarter, missing analysts' consensus estimates of $4.71 by ($0.02). AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the business posted $4.68 EPS. AutoNation's revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that AutoNation, Inc. will post 21.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AN has been the topic of several recent research reports. Citigroup boosted their price objective on shares of AutoNation from $269.00 to $287.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Barclays raised their target price on shares of AutoNation from $240.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their target price on shares of AutoNation from $207.00 to $208.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Morgan Stanley reiterated an "overweight" rating and set a $240.00 price target on shares of AutoNation in a research note on Thursday, May 7th. Finally, UBS Group started coverage on shares of AutoNation in a report on Wednesday, May 27th. They set a "buy" rating and a $234.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average price target of $246.90.

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.

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