Public Employees Retirement System of Ohio Reduces Position in AutoNation, Inc. $AN

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in AutoNation, Inc. by 67.7% in Q2, holding 9,210 shares valued at approximately $1.83 million.
• AutoNation reported earnings of $5.46 per share, surpassing estimates and showing a 7.6% revenue increase year-over-year, amounting to $6.97 billion.
• Analysts have set new price targets for AutoNation, with Morgan Stanley raising theirs from $195 to $220, reflecting a bullish sentiment around the stock.

Public Employees Retirement System of Ohio lessened its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 67.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,210 shares of the company's stock after selling 19,306 shares during the period. Public Employees Retirement System of Ohio's holdings in AutoNation were worth $1,830,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Counterpoint Mutual Funds LLC bought a new stake in shares of AutoNation during the second quarter valued at approximately $327,000. GAMMA Investing LLC raised its stake in shares of AutoNation by 33.3% during the second quarter. GAMMA Investing LLC now owns 613 shares of the company's stock valued at $122,000 after acquiring an additional 153 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of AutoNation during the second quarter valued at approximately $1,384,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of AutoNation by 62.7% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,950 shares of the company's stock valued at $1,777,000 after acquiring an additional 3,450 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its stake in shares of AutoNation by 10.4% during the second quarter. NorthCrest Asset Manangement LLC now owns 5,463 shares of the company's stock valued at $1,161,000 after acquiring an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 94.62% of the company's stock.

AutoNation Price Performance

Shares of AN opened at $224.54 on Friday. The firm has a market capitalization of $8.47 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $228.92. The company's fifty day moving average price is $213.29 and its 200-day moving average price is $194.23.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, beating analysts' consensus estimates 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 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 period in the previous year, the company earned $3.99 earnings per share. On average, equities research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on AN shares. Citigroup reaffirmed a "buy" rating on shares of AutoNation in a research note on Thursday, September 25th. Morgan Stanley lifted their price target on shares of AutoNation from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Weiss Ratings reissued a "buy (b-)" rating on shares of AutoNation in a research note on Saturday, September 27th. Bank of America reduced their price objective on shares of AutoNation from $255.00 to $250.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Finally, Stephens boosted their price objective on shares of AutoNation from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $222.63.

About AutoNation

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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