KLP Kapitalforvaltning AS Boosts Stock Position in AutoNation, Inc. $AN

Key Points

• KLP Kapitalforvaltning AS increased its holdings in AutoNation, Inc. by 24.5% in the second quarter, acquiring an additional 1,200 shares, bringing their total to 6,100 shares worth $1,212,000.
• Several other hedge funds also adjusted their positions in AutoNation, with 94.62% of the stock now owned by institutional investors.
• AutoNation reported $5.46 EPS in its last quarterly earnings, exceeding the consensus estimate of $4.70, along with a revenue of $6.97 billion, a 7.6% increase year-over-year.

KLP Kapitalforvaltning AS increased its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 24.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,100 shares of the company's stock after acquiring an additional 1,200 shares during the period. KLP Kapitalforvaltning AS's holdings in AutoNation were worth $1,212,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. IVC Wealth Advisors LLC grew its position in AutoNation by 0.9% in the second quarter. IVC Wealth Advisors LLC now owns 9,074 shares of the company's stock worth $1,803,000 after acquiring an additional 78 shares during the period. 111 Capital purchased a new position in AutoNation in the second quarter worth approximately $208,000. Ameritas Advisory Services LLC purchased a new position in AutoNation in the second quarter worth approximately $527,000. HCR Wealth Advisors grew its position in AutoNation by 0.4% in the second quarter. HCR Wealth Advisors now owns 24,712 shares of the company's stock worth $4,909,000 after acquiring an additional 94 shares during the period. Finally, Invesco LLC acquired a new position in AutoNation during the second quarter worth $232,000. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AN. Bank of America decreased their price target on AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. Morgan Stanley upped their price target on AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Guggenheim decreased their price target on AutoNation from $230.00 to $228.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Weiss Ratings cut AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut AutoNation from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $225.75.

AutoNation Price Performance

Shares of AN opened at $220.97 on Wednesday. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $228.92. The stock's 50 day moving average is $216.68 and its two-hundred day moving average is $196.79. The firm has a market capitalization of $8.33 billion, a PE ratio of 13.84, a P/E/G ratio of 0.99 and a beta of 0.85. 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 (NYSE:AN - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping the consensus estimate of $4.70 by $0.76. The business 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%.The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.99 EPS. Research analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation Company 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.

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