Kendall Capital Management Acquires New Position in AutoNation, Inc. $AN

Key Points

• Kendall Capital Management initiated a position in AutoNation during the second quarter, purchasing 7,660 shares valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 94.62% of the company.
• AutoNation exceeded quarterly EPS expectations, reporting $5.56 per share versus the $5.48 consensus estimate, though revenue declined 0.6% year over year to $6.93 billion.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $250 price target; however, director Lisa Lutoff-Perlo recently sold 900 shares at $220 each.

Kendall Capital Management bought a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,660 shares of the company's stock, valued at approximately $1,423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AN. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% during the 1st 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. Employees Retirement System of Texas acquired a new position in shares of AutoNation in the 3rd quarter valued at $48,000. Smartleaf Asset Management LLC lifted its stake in shares of AutoNation by 49.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 259 shares of the company's stock valued at $54,000 after purchasing an additional 86 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of AutoNation by 33.0% during the 1st quarter. Bessemer Group Inc. now owns 306 shares of the company's stock worth $59,000 after purchasing an additional 76 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of AutoNation during the 2nd quarter worth about $63,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Stock Performance

Shares of AutoNation stock opened at $198.86 on Friday. The business has a 50-day moving average of $200.60 and a 200 day moving average of $197.84. AutoNation, Inc. has a 12 month low of $176.62 and a 12 month high of $235.81. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 0.83 and a beta of 0.71. 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 (NYSE:AN - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.48 by $0.08. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 earnings per share. As a group, sell-side analysts forecast that AutoNation, Inc. will post 21.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AN has been the topic of several research analyst reports. Stephens boosted their price objective on shares of AutoNation from $220.00 to $232.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. 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. Citigroup lifted their price target on shares of AutoNation from $287.00 to $290.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Seaport Research Partners reissued a "buy" rating and issued a $255.00 price target on shares of AutoNation in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of AutoNation from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

Insider Activity

In related news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation 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 completion of the transaction, the director directly owned 7,989 shares in the company, valued at approximately $1,757,580. This trade represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

AutoNation Company 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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