Garner Asset Management Corp Boosts Holdings in AutoNation, Inc. (NYSE:AN)

Garner Asset Management Corp increased its holdings in AutoNation, Inc. (NYSE:AN) by 5.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,242 shares of the company’s stock after acquiring an additional 872 shares during the period. AutoNation makes up about 1.4% of Garner Asset Management Corp’s holdings, making the stock its 19th largest holding. Garner Asset Management Corp’s holdings in AutoNation were worth $2,907,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AN. Jones Financial Companies Lllp purchased a new stake in AutoNation in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake in AutoNation by 90.6% during the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 96 shares in the last quarter. Riverview Trust Co acquired a new position in AutoNation during the 1st quarter worth about $33,000. Ashton Thomas Private Wealth LLC purchased a new position in AutoNation during the 2nd quarter valued at about $37,000. Finally, Denali Advisors LLC grew its position in AutoNation by 79.7% in the 1st quarter. Denali Advisors LLC now owns 248 shares of the company’s stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Edward S. Lampert sold 100,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $176.21, for a total value of $17,621,000.00. Following the completion of the transaction, the insider now owns 3,880,467 shares in the company, valued at approximately $683,777,090.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AutoNation news, major shareholder Edward S. Lampert sold 23,703 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $172.29, for a total transaction of $4,083,789.87. Following the completion of the transaction, the insider now owns 3,980,467 shares of the company’s stock, valued at $685,794,659.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Edward S. Lampert sold 100,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $176.21, for a total value of $17,621,000.00. Following the completion of the transaction, the insider now directly owns 3,880,467 shares of the company’s stock, valued at $683,777,090.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,959 shares of company stock worth $39,346,744. Corporate insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AN shares. Wells Fargo & Company raised their price objective on shares of AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Stephens started coverage on AutoNation in a research note on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price objective on the stock. Evercore ISI boosted their target price on AutoNation from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on AutoNation from $160.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Bank of America raised their target price on shares of AutoNation from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AutoNation currently has a consensus rating of “Moderate Buy” and an average price target of $194.25.

AutoNation Trading Up 0.7 %

NYSE:AN opened at $170.84 on Thursday. The company has a market capitalization of $6.88 billion, a PE ratio of 8.10, a P/E/G ratio of 3.20 and a beta of 1.20. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $197.18. The stock’s 50 day moving average price is $172.63 and its 200 day moving average price is $165.42. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). AutoNation had a return on equity of 36.50% and a net margin of 2.93%. The business had revenue of $6.48 billion for the quarter, compared to analyst estimates of $6.72 billion. During the same quarter in the prior year, the company earned $6.29 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, research analysts anticipate that AutoNation, Inc. will post 17.67 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.