McLean Asset Management Corp Invests $265,000 in AutoNation, Inc. $AN

Key Points

• McLean Asset Management Corp has invested approximately $265,000 in a new stake of 1,250 shares of AutoNation, Inc. during the second quarter.
• Several other institutional investors, including Wealth Enhancement Advisory Services LLC and Cerity Partners LLC, have similarly increased their stakes in AutoNation over the past year, with 94.62% of shares owned by such investors.
• Analysts have mixed views on AutoNation, with target prices ranging from $205.00 to $250.00, and a consensus rating of "Moderate Buy" based on recent upgrades and downgrades.

McLean Asset Management Corp bought a new stake in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,250 shares of the company's stock, valued at approximately $265,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in AutoNation by 104.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,882 shares of the company's stock worth $952,000 after purchasing an additional 3,001 shares during the period. Cerity Partners LLC raised its stake in shares of AutoNation by 95.3% during the 1st quarter. Cerity Partners LLC now owns 5,247 shares of the company's stock worth $850,000 after buying an additional 2,561 shares during the period. Focus Partners Wealth purchased a new stake in shares of AutoNation during the fourth quarter worth approximately $503,000. Bessemer Group Inc. increased its stake in shares of AutoNation by 9.7% in the 1st quarter. Bessemer Group Inc. now owns 987 shares of the company's stock worth $160,000 after acquiring an additional 87 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of AutoNation in the 1st quarter worth $5,162,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AN. Bank of America cut their target price on AutoNation from $255.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley boosted their price target on AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Stephens boosted their price target on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their price target on AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. 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 note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $222.63.

AutoNation Stock Down 2.1%

AN stock opened at $222.15 on Friday. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $228.92. The business's 50-day simple moving average is $209.04 and its 200 day simple moving average is $189.04. 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 company has a market cap of $8.38 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.04 and a beta of 0.89.

AutoNation (NYSE:AN - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.76. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.77 billion. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 EPS. On average, 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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