AutoNation, Inc. (NYSE:AN) Director Sells $1,680,000.00 in Stock

AutoNation, Inc. (NYSE:AN) Director David B. Edelson sold 10,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $168.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now directly owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AutoNation Price Performance

AN stock opened at $165.03 on Friday. The stock has a market cap of $6.65 billion, a PE ratio of 7.83, a P/E/G ratio of 3.05 and a beta of 1.22. AutoNation, Inc. has a 12 month low of $123.81 and a 12 month high of $182.08. The company has a 50-day moving average price of $156.70 and a 200 day moving average price of $145.73. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 1.47.

AutoNation (NYSE:AN) last released its earnings results on Friday, April 26th. The company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.04. AutoNation had a return on equity of 42.44% and a net margin of 3.41%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the prior year, the firm posted $6.05 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts anticipate that AutoNation, Inc. will post 18.73 earnings per share for the current year.

AutoNation declared that its board has approved a share buyback program on Friday, April 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 14.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on AN. Morgan Stanley raised shares of AutoNation from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $117.00 to $140.00 in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price target on shares of AutoNation from $142.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI assumed coverage on AutoNation in a report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 target price on the stock. Bank of America dropped their price target on AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price objective on AutoNation from $153.00 to $169.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.63.

Hedge Funds Weigh In On AutoNation

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in AutoNation by 31.8% during the 3rd quarter. Invesco Ltd. now owns 754,956 shares of the company’s stock worth $114,300,000 after purchasing an additional 181,942 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of AutoNation by 47.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after buying an additional 109,571 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of AutoNation by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,991 shares of the company’s stock valued at $45,203,000 after acquiring an additional 1,166 shares in the last quarter. Norges Bank purchased a new stake in AutoNation in the fourth quarter worth about $42,748,000. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in AutoNation by 1.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 267,650 shares of the company’s stock worth $44,317,000 after acquiring an additional 4,720 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

About AutoNation

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.