Vanguard Group Inc. Grows Holdings in AutoNation, Inc. $AN

Key Points

• Vanguard Group Inc. increased its stake in AutoNation, acquiring an additional 219,474 shares, bringing its total ownership to approximately 8.64%, valued at about $527 million.
• Analyst ratings for AutoNation show a consensus of "Moderate Buy", with target prices ranging from $200 to $255 according to several financial institutions.
• In its latest quarterly report, AutoNation reported an EPS of $5.46, exceeding expectations, with revenues of $6.97 billion—up 7.6% year-over-year.

Vanguard Group Inc. raised its holdings in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,256,308 shares of the company's stock after buying an additional 219,474 shares during the period. Vanguard Group Inc. owned about 8.64% of AutoNation worth $527,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of AutoNation by 9.4% during the 4th quarter. Bank of Montreal Can now owns 5,867 shares of the company's stock worth $996,000 after purchasing an additional 506 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AutoNation in the fourth quarter valued at approximately $7,836,000. Treasurer of the State of North Carolina raised its position in shares of AutoNation by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 11,171 shares of the company's stock valued at $1,897,000 after buying an additional 70 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of AutoNation by 55.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,524 shares of the company's stock worth $259,000 after acquiring an additional 542 shares during the period. Finally, Barclays PLC raised its stake in shares of AutoNation by 14.7% in the 4th quarter. Barclays PLC now owns 50,433 shares of the company's stock valued at $8,567,000 after buying an additional 6,446 shares in the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AN. JPMorgan Chase & Co. raised their target price on AutoNation from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Morgan Stanley lifted their price target on shares of AutoNation from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup raised AutoNation to a "strong-buy" rating in a research note on Thursday, April 24th. Bank of America raised their price target on AutoNation from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Guggenheim dropped 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. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.25.

AutoNation Stock Performance

Shares of NYSE:AN traded down $0.25 on Monday, hitting $205.93. The company had a trading volume of 156,913 shares, compared to its average volume of 484,075. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $217.40. The stock has a 50 day moving average price of $200.30 and a 200 day moving average price of $184.85. The company has a current ratio of 0.81, a quick ratio of 0.21 and a debt-to-equity ratio of 1.84. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.01 and a beta of 0.89.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%. The firm had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company posted $3.99 EPS. The business's quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that AutoNation, Inc. will post 18.15 EPS for the current year.

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.