Jefferies Financial Group Inc. Boosts Stock Position in AutoNation, Inc. (NYSE:AN)

Key Points

• Jefferies Financial Group Inc. boosted its stake in AutoNation, Inc. by 66.4% in Q1, acquiring 5,506 additional shares, bringing its total holdings to 13,804 shares valued at approximately $2.23 million.
• AutoNation reported a strong quarterly performance with earnings per share of $5.46, exceeding estimates by $0.76, alongside revenues of $6.97 billion, higher than expected.
• Analysts have generally positive outlooks on AutoNation, with target prices ranging from $200 to $255, indicating an average rating of "Moderate Buy".

Jefferies Financial Group Inc. increased its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 66.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,804 shares of the company's stock after buying an additional 5,506 shares during the period. Jefferies Financial Group Inc.'s holdings in AutoNation were worth $2,235,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brave Warrior Advisors LLC boosted its holdings in shares of AutoNation by 50.3% in the 4th quarter. Brave Warrior Advisors LLC now owns 1,461,213 shares of the company's stock worth $248,172,000 after buying an additional 488,904 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in AutoNation by 422.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 575,000 shares of the company's stock valued at $97,658,000 after purchasing an additional 465,000 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in AutoNation by 63.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,104,934 shares of the company's stock valued at $187,662,000 after purchasing an additional 426,882 shares during the last quarter. Cartenna Capital LP purchased a new stake in AutoNation during the fourth quarter valued at about $56,831,000. Finally, Norges Bank bought a new position in shares of AutoNation in the fourth quarter worth approximately $38,136,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AN has been the topic of a number of recent research reports. Cfra Research raised AutoNation to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America increased their price objective on AutoNation from $225.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wells Fargo & Company increased their price objective on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Wall Street Zen raised AutoNation from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Finally, Citigroup raised AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $215.13.

AutoNation Stock Up 3.2%

Shares of NYSE:AN traded up $6.08 on Tuesday, hitting $195.35. 690,026 shares of the company traded hands, compared to its average volume of 570,799. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $217.40. The company has a quick ratio of 0.21, a current ratio of 0.81 and a debt-to-equity ratio of 1.84. The stock has a 50 day simple moving average of $197.23 and a 200-day simple moving average of $183.89. The company has a market cap of $7.37 billion, a PE ratio of 12.24, a PEG ratio of 0.95 and a beta of 0.89.

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 the consensus estimate of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%. The company had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same period last year, the company earned $3.99 EPS. AutoNation's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts expect 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.