The Manufacturers Life Insurance Company Buys Shares of 18,697 AutoNation, Inc. $AN

Key Points

• The Manufacturers Life Insurance Company initiated a position in AutoNation, purchasing 18,697 shares valued at approximately $3.47 million. Institutional investors collectively own 94.62% of the company.
• AutoNation reported quarterly earnings of $5.56 per share, exceeding analyst estimates of $5.48, while revenue fell 0.6% year over year to $6.93 billion.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $250 price target; recent targets range from $248 to $260.

The Manufacturers Life Insurance Company purchased a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,697 shares of the company's stock, valued at approximately $3,474,000. The Manufacturers Life Insurance Company owned 0.06% of AutoNation at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. purchased a new position in shares of AutoNation in the second quarter valued at approximately $2,663,000. Kendall Capital Management purchased a new stake in AutoNation during the 2nd quarter worth approximately $1,423,000. Commerce Bank purchased a new stake in AutoNation during the 2nd quarter worth approximately $203,000. Northwestern Mutual Wealth Management Co. purchased a new stake in AutoNation during the 2nd quarter worth approximately $477,000. Finally, Quantbot Technologies LP acquired a new stake in AutoNation during the 2nd quarter worth approximately $2,540,000. Institutional investors and hedge funds own 94.62% of the company's stock.

AutoNation Price Performance

AN stock opened at $204.11 on Wednesday. The business has a 50 day moving average price of $201.80 and a 200 day moving average price of $197.25. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.97 and a beta of 0.72. AutoNation, Inc. has a fifty-two week low of $176.62 and a fifty-two week high of $235.81.

AutoNation (NYSE:AN - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, beating the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. The firm's revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that AutoNation, Inc. will post 21.69 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the transaction, the director directly owned 7,989 shares of the company's stock, valued at $1,757,580. This trade represents a 10.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

AN has been the subject of several recent research reports. Morgan Stanley raised 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. Seaport Research Partners reiterated a "buy" rating and issued a $255.00 price objective on shares of AutoNation in a research note on Monday, August 3rd. UBS Group reiterated a "buy" rating and issued a $248.00 target price on shares of AutoNation in a report on Monday, August 3rd. Barclays boosted their target price on AutoNation from $255.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded AutoNation from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, AutoNation currently has a consensus rating of "Moderate Buy" and a consensus price target of $250.00.

About AutoNation

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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