4,841 Shares in AutoNation, Inc. $AN Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC purchased a new position in shares of AutoNation, Inc. (NYSE:AN) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 4,841 shares of the company’s stock, valued at approximately $762,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parkside Financial Bank & Trust raised its stake in shares of AutoNation by 73.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $36,000 after purchasing an additional 82 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of AutoNation by 33.0% in the first quarter. Bessemer Group Inc. now owns 306 shares of the company’s stock valued at $59,000 after buying an additional 76 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of AutoNation in the second quarter valued at $63,000. Community Financial Services Group LLC bought a new position in shares of AutoNation in the second quarter valued at $108,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AutoNation in the fourth quarter valued at $139,000. Institutional investors own 94.62% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total value of $198,000.00. Following the sale, the director owned 7,989 shares in the company, valued at approximately $1,757,580. This represents a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AN shares. JPMorgan Chase & Co. lowered their target price on shares of AutoNation from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Northcoast Research upgraded shares of AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price target for the company in a research note on Tuesday, July 14th. Morgan Stanley cut shares of AutoNation from an “overweight” rating to a “negative” rating in a research note on Monday, October 5th. Wells Fargo & Company lifted their price objective on shares of AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, UBS Group lowered their price objective on shares of AutoNation from $248.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

AutoNation Price Performance

NYSE:AN opened at $161.97 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The stock’s 50 day moving average price is $185.29 and its two-hundred day moving average price is $193.30. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.79 and a beta of 0.81. AutoNation, Inc. has a 12-month low of $151.82 and a 12-month high of $235.81.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%. The company had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the firm posted $2.26 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, analysts anticipate that AutoNation, Inc. will post 21.12 earnings per share for the current year.

About AutoNation

AutoNation, Inc is an automotive retailer headquartered in Fort Lauderdale, Florida. The company sells new and used vehicles through a network of franchised dealerships representing a range of major automotive brands, as well as through digital retailing channels.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision repair, vehicle protection products, financing assistance and other related services. Its operations support customers throughout the vehicle ownership cycle, from purchase and financing to routine service and repairs.

The company traces its origins to Republic Industries, which entered the automotive retail business in the 1990s and adopted the AutoNation name in 1998.