JPMorgan Chase & Co. Grows Position in AutoNation, Inc. (AN)

JPMorgan Chase & Co. increased its position in AutoNation, Inc. (NYSE:AN) by 33.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,720 shares of the company’s stock after buying an additional 39,526 shares during the period. JPMorgan Chase & Co.’s holdings in AutoNation were worth $6,595,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in AutoNation by 56.9% in the second quarter. Public Employees Retirement System of Ohio now owns 57,319 shares of the company’s stock worth $2,785,000 after buying an additional 20,776 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in AutoNation by 32.4% during the second quarter. Canada Pension Plan Investment Board now owns 136,000 shares of the company’s stock valued at $6,607,000 after purchasing an additional 33,300 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in AutoNation by 1,960.6% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,597,000 shares of the company’s stock valued at $77,582,000 after purchasing an additional 1,519,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in AutoNation during the second quarter valued at approximately $774,000. Finally, Commonwealth Bank of Australia grew its holdings in AutoNation by 8.3% during the second quarter. Commonwealth Bank of Australia now owns 35,177 shares of the company’s stock valued at $1,705,000 after purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 64.13% of the company’s stock.

Several equities analysts have commented on AN shares. Bank of America upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. TheStreet downgraded AutoNation from a “b-” rating to a “c+” rating in a report on Tuesday, September 25th. SunTrust Banks started coverage on AutoNation in a report on Friday, August 24th. They set a “hold” rating and a $48.00 price target on the stock. Buckingham Research lowered their price target on AutoNation from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, October 31st. Finally, ValuEngine upgraded AutoNation from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. AutoNation currently has a consensus rating of “Hold” and an average target price of $46.00.

Shares of AN stock opened at $33.37 on Friday. AutoNation, Inc. has a 12 month low of $33.00 and a 12 month high of $62.02. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.20 and a current ratio of 0.86. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 1.16 and a beta of 1.21.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.58 billion. AutoNation had a net margin of 2.10% and a return on equity of 16.21%. AutoNation’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. On average, sell-side analysts anticipate that AutoNation, Inc. will post 4.53 earnings per share for the current fiscal year.

In other news, Director Robert R. Grusky sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the director now owns 35,177 shares in the company, valued at $1,407,080. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Jackson sold 74,208 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $40.69, for a total transaction of $3,019,523.52. Following the completion of the sale, the chief executive officer now owns 168,205 shares in the company, valued at approximately $6,844,261.45. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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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.

Further Reading: Momentum Indicator: Relative Strength Index

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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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