AutoNation, Inc. $AN Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in AutoNation, Inc. by 9.6%, following the sale of 26,620 shares, while still holding approximately 0.66% of the company valued at $40.4 million.
• Analysts have recently boosted their price targets for AutoNation, with Morgan Stanley raising it from $195.00 to $220.00 and a consensus price target now set at $223.25.
• AutoNation reported Q2 earnings** of $5.46 per share, exceeding estimates, and a revenue of $6.97 billion, reflecting a 7.6% year-over-year increase.

Northern Trust Corp cut its holdings in AutoNation, Inc. (NYSE:AN - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,735 shares of the company's stock after selling 26,620 shares during the period. Northern Trust Corp owned 0.66% of AutoNation worth $40,437,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AN. Brave Warrior Advisors LLC lifted its holdings in AutoNation by 50.3% in the fourth quarter. Brave Warrior Advisors LLC now owns 1,461,213 shares of the company's stock valued at $248,172,000 after acquiring an additional 488,904 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in AutoNation by 63.0% in 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 acquiring an additional 426,882 shares during the last quarter. Nuveen LLC acquired a new position in AutoNation in the first quarter valued at approximately $36,060,000. Vanguard Group Inc. lifted its stake in AutoNation by 7.2% during the first quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company's stock worth $527,261,000 after purchasing an additional 219,474 shares in the last quarter. Finally, Boston Partners lifted its stake in AutoNation by 8.3% during the first quarter. Boston Partners now owns 1,964,187 shares of the company's stock worth $318,749,000 after purchasing an additional 149,959 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Stock Up 0.0%

NYSE:AN traded up $0.09 during trading hours on Tuesday, hitting $219.17. The company's stock had a trading volume of 207,591 shares, compared to its average volume of 476,113. The stock has a market capitalization of $8.26 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. The stock has a fifty day moving average of $205.47 and a 200-day moving average of $186.74. 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, Inc. has a 52-week low of $148.33 and a 52-week high of $224.00.

AutoNation (NYSE:AN - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported $5.46 EPS for the quarter, beating the consensus estimate of $4.70 by $0.76. The firm 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%.AutoNation's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.99 earnings per share. On average, equities analysts forecast that AutoNation, Inc. will post 18.15 earnings per share for the current year.

Analysts Set New Price Targets

AN has been the topic of a number of research reports. 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. Wells Fargo & Company upped their price target on AutoNation from $209.00 to $221.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Stephens upped their price target on AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Bank of America upped their price objective on AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, AutoNation currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.25.

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.