Pecaut & CO. Invests $4.38 Million in AutoNation, Inc. $AN

Pecaut & CO. acquired a new stake in AutoNation, Inc. (NYSE:AN) in the 2nd quarter, Holdings Channel reports. The firm acquired 23,570 shares of the company’s stock, valued at approximately $4,379,000. AutoNation comprises 1.3% of Pecaut & CO.’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC raised its stake in AutoNation by 0.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,494 shares of the company’s stock valued at $1,960,000 after purchasing an additional 52 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of AutoNation by 0.9% during the 4th quarter. Kestra Advisory Services LLC now owns 5,668 shares of the company’s stock worth $1,170,000 after purchasing an additional 53 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of AutoNation by 0.9% during the third quarter. Kestra Private Wealth Services LLC now owns 6,288 shares of the company’s stock valued at $1,376,000 after buying an additional 55 shares during the last quarter. Redwood Investment Management LLC raised its position in shares of AutoNation by 1.1% during the first quarter. Redwood Investment Management LLC now owns 5,372 shares of the company’s stock valued at $1,049,000 after buying an additional 61 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of AutoNation by 13.3% in the third quarter. CIBC Private Wealth Group LLC now owns 519 shares of the company’s stock valued at $114,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 94.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AN shares. Weiss Ratings restated a “buy (b-)” rating on shares of AutoNation in a research note on Monday, August 3rd. Wells Fargo & Company raised their price objective on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Barclays boosted their price objective on AutoNation from $255.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Argus upped their target price on AutoNation from $241.00 to $246.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $255.00 target price on shares of AutoNation in a research report on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $250.00.

Insider Activity at AutoNation

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

AutoNation Trading Up 0.4%

Shares of AutoNation stock opened at $209.29 on Friday. AutoNation, Inc. has a 12-month low of $176.62 and a 12-month high of $235.81. The stock has a market capitalization of $6.92 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.71. The company has a 50-day simple moving average of $199.73 and a 200 day simple moving average of $198.20. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last released its quarterly earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping 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 business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company earned $2.26 EPS. AutoNation’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts expect that AutoNation, Inc. will post 21.64 earnings per share for the current fiscal year.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.