Truist Financial Corp Boosts Stake in AutoNation, Inc. (NYSE:AN)

Truist Financial Corp raised its holdings in shares of AutoNation, Inc. (NYSE:AN) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,449 shares of the company’s stock after buying an additional 840 shares during the period. Truist Financial Corp’s holdings in AutoNation were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Riverview Trust Co purchased a new position in AutoNation during the first quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of AutoNation by 90.6% during the 2nd quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 96 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in AutoNation during the second quarter valued at about $37,000. Denali Advisors LLC grew its stake in AutoNation by 79.7% in the first quarter. Denali Advisors LLC now owns 248 shares of the company’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of AutoNation during the first quarter valued at about $57,000. Institutional investors own 94.62% of the company’s stock.

AutoNation Stock Up 1.2 %

Shares of AN opened at $167.25 on Tuesday. AutoNation, Inc. has a 52-week low of $123.81 and a 52-week high of $197.18. The company has a quick ratio of 0.21, a current ratio of 0.78 and a debt-to-equity ratio of 1.65. The stock has a fifty day simple moving average of $171.43 and a two-hundred day simple moving average of $167.55. The company has a market capitalization of $6.64 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.19.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.99 EPS for the quarter, missing the consensus estimate of $4.31 by ($0.32). The business had revenue of $6.48 billion during the quarter, compared to analyst estimates of $6.72 billion. AutoNation had a net margin of 2.93% and a return on equity of 36.50%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the company earned $6.29 EPS. As a group, equities analysts forecast that AutoNation, Inc. will post 17.64 EPS for the current year.

Insider Transactions at AutoNation

In other AutoNation news, major shareholder Edward S. Lampert sold 500 shares of AutoNation stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $182.06, for a total value of $91,030.00. Following the completion of the transaction, the insider now directly owns 3,825,338 shares of the company’s stock, valued at $696,441,036.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Edward S. Lampert sold 53,562 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $193.45, for a total value of $10,361,568.90. Following the transaction, the insider now owns 3,825,838 shares in the company, valued at approximately $740,108,361.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Edward S. Lampert sold 500 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the transaction, the insider now directly owns 3,825,338 shares in the company, valued at $696,441,036.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,256 shares of company stock worth $17,641,954. 0.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on AN. Stephens started coverage on shares of AutoNation in a report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 price target on the stock. Bank of America cut their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley raised AutoNation from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $145.00 to $200.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of AutoNation from $160.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their target price on shares of AutoNation from $164.00 to $187.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and an average target price of $201.13.

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.