Janney Montgomery Scott LLC Sells 2,400 Shares of AutoNation, Inc. $AN

Key Points

• Janney Montgomery Scott LLC reduced its stake in AutoNation, Inc. by 7.5%, selling 2,400 shares during the second quarter and currently holding 29,477 shares worth approximately $5.86 million.
• Analysts have provided mixed ratings on AutoNation, with price targets ranging from $185.00 to $220.00, and a consensus target of $222.63, indicating a moderate buy outlook.
• AutoNation reported a 7.6% year-over-year revenue increase, with $6.97 billion in revenue and $5.46 earnings per share surpassing consensus estimates.

Janney Montgomery Scott LLC cut its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,477 shares of the company's stock after selling 2,400 shares during the period. Janney Montgomery Scott LLC owned 0.08% of AutoNation worth $5,856,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AN. Geneos Wealth Management Inc. raised its stake in AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company's stock valued at $38,000 after buying an additional 64 shares during the period. Parallel Advisors LLC increased its holdings in shares of AutoNation by 45.3% during the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company's stock worth $74,000 after acquiring an additional 117 shares during the last quarter. GAMMA Investing LLC raised its stake in AutoNation by 81.1% in the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company's stock valued at $74,000 after acquiring an additional 206 shares during the period. SVB Wealth LLC bought a new stake in AutoNation in the 1st quarter valued at $86,000. Finally, UMB Bank n.a. lifted its holdings in AutoNation by 56.8% during the 1st quarter. UMB Bank n.a. now owns 839 shares of the company's stock valued at $136,000 after purchasing an additional 304 shares during the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AN. Stephens upped their price objective on shares of AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of AutoNation from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Morgan Stanley increased their price target on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Weiss Ratings restated a "buy (b-)" rating on shares of AutoNation in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on AutoNation from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, AutoNation presently has an average rating of "Moderate Buy" and a consensus price target of $222.63.

AutoNation Stock Down 2.1%

Shares of NYSE AN opened at $219.73 on Tuesday. The stock has a market capitalization of $8.29 billion, a P/E ratio of 13.77, a PEG ratio of 1.03 and a beta of 0.85. The stock's fifty day moving average is $213.76 and its 200 day moving average is $194.99. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.21 and a current ratio of 0.81.

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

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