KBC Group NV Sells 819 Shares of AutoNation, Inc. $AN

KBC Group NV lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,284 shares of the company’s stock after selling 819 shares during the quarter. KBC Group NV’s holdings in AutoNation were worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after acquiring an additional 64 shares during the last quarter. Parallel Advisors LLC grew its stake in AutoNation by 45.3% in the 2nd quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after purchasing an additional 117 shares during the period. SVB Wealth LLC purchased a new stake in shares of AutoNation during the 1st quarter valued at $86,000. IFP Advisors Inc raised its stake in shares of AutoNation by 38.0% during the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock worth $101,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of AutoNation by 33.3% in the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after buying an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $196.32 on Monday. The firm’s 50 day moving average is $211.57 and its 200 day moving average is $202.91. The stock has a market capitalization of $7.16 billion, a P/E ratio of 11.55, a PEG ratio of 0.91 and a beta of 0.87. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92. The company has a current ratio of 0.79, a quick ratio of 0.20 and a debt-to-equity ratio of 1.93.

AutoNation (NYSE:AN) last issued its earnings results on Thursday, October 23rd. The company reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.16. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. During the same quarter in the previous year, the firm posted $4.02 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation announced that its Board of Directors has initiated a share repurchase program on Friday, October 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on AN shares. Bank of America reduced their price target on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Guggenheim reduced their target price on shares of AutoNation from $230.00 to $228.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Citigroup lifted their price target on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Stephens upped their price objective on AutoNation from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company decreased their target price on AutoNation from $221.00 to $220.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.44.

AutoNation Company 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.