AutoNation, Inc. (NYSE:AN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in AutoNation, Inc. (NYSE:AN) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,681 shares of the company’s stock after selling 82 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AutoNation were worth $1,003,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First United Bank & Trust acquired a new position in shares of AutoNation in the 4th quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in shares of AutoNation in the 4th quarter valued at $27,000. Anchor Investment Management LLC acquired a new position in shares of AutoNation in the 4th quarter valued at $28,000. Jones Financial Companies Lllp acquired a new position in shares of AutoNation in the 4th quarter valued at $30,000. Finally, Avalon Trust Co acquired a new position in shares of AutoNation in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $160.47 on Monday. AutoNation, Inc. has a 12 month low of $123.81 and a 12 month high of $182.08. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.79 and a quick ratio of 0.23. The firm has a market capitalization of $6.46 billion, a P/E ratio of 7.61, a P/E/G ratio of 3.08 and a beta of 1.21. The company’s fifty day moving average price is $164.98 and its two-hundred day moving average price is $154.11.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Friday, April 26th. The company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.45 by $0.04. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.49 billion. AutoNation had a net margin of 3.41% and a return on equity of 42.44%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.05 EPS. On average, research analysts anticipate that AutoNation, Inc. will post 18.44 earnings per share for the current fiscal year.

AutoNation announced that its Board of Directors has authorized a share repurchase plan on Friday, April 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 14.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at AutoNation

In other news, Director David B. Edelson sold 10,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the sale, the director now owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of AutoNation from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, June 10th. Morgan Stanley upgraded shares of AutoNation from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $117.00 to $140.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of AutoNation from $142.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Guggenheim lifted their target price on shares of AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Bank of America reduced their target price on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus target price of $183.25.

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.