Atlas Capital Advisors LLC Cuts Stake in AutoNation, Inc. (NYSE:AN)

Atlas Capital Advisors LLC decreased its position in AutoNation, Inc. (NYSE:AN) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,436 shares of the company’s stock after selling 1,116 shares during the period. Atlas Capital Advisors LLC’s holdings in AutoNation were worth $403,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new stake in shares of AutoNation in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new stake in AutoNation during the 4th quarter valued at $27,000. Anchor Investment Management LLC purchased a new position in AutoNation during the fourth quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in shares of AutoNation in the fourth quarter worth $30,000. Finally, Avalon Trust Co purchased a new stake in shares of AutoNation in the fourth quarter valued at $32,000. 94.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AN has been the topic of several analyst reports. Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $117.00 to $140.00 in a research note on Thursday, February 29th. Evercore ISI lifted their target price on shares of AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Wells Fargo & Company increased their price target on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Guggenheim lifted their price objective on AutoNation from $169.00 to $187.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. increased their target price on AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, AutoNation has an average rating of “Moderate Buy” and a consensus target price of $183.25.

Insider Transactions at AutoNation

In other AutoNation news, Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the transaction, the director now directly owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.74% of the company’s stock.

AutoNation Stock Performance

Shares of NYSE:AN opened at $156.81 on Friday. The business’s 50-day simple moving average is $165.24 and its 200 day simple moving average is $154.43. The company has a market cap of $6.31 billion, a P/E ratio of 7.44, a PEG ratio of 2.97 and a beta of 1.21. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.23 and a current ratio of 0.79. AutoNation, Inc. has a one year low of $123.81 and a one year high of $182.08.

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

AutoNation declared that its Board of Directors has approved a stock repurchase program on Friday, April 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.