AutoNation, Inc. (NYSE:AN) Director David B. Edelson Sells 10,000 Shares

AutoNation, Inc. (NYSE:AN) Director David B. Edelson sold 10,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00. Following the sale, the director now owns 48,793 shares of the company’s stock, valued at approximately $8,197,224. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

AutoNation Trading Up 1.1 %

Shares of NYSE:AN opened at $162.85 on Thursday. The firm has a fifty day moving average of $155.71 and a two-hundred day moving average of $145.42. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 1.47. AutoNation, Inc. has a 12-month low of $123.81 and a 12-month high of $182.08. The firm has a market capitalization of $6.56 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 1.31 and a beta of 1.22.

AutoNation (NYSE:AN) last released its quarterly earnings data on Friday, April 26th. The company reported $4.49 earnings per share (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 during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter last year, the firm earned $6.05 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts expect that AutoNation, Inc. will post 18.73 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

AN has been the subject of a number of recent research reports. Guggenheim increased their price objective on AutoNation from $165.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley upgraded AutoNation from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $117.00 to $140.00 in a research report on Thursday, February 29th. StockNews.com downgraded AutoNation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Bank of America cut their price objective on AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Evercore ISI started coverage on AutoNation in a report on Wednesday, January 17th. They issued an “outperform” rating and a $185.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.38.

Hedge Funds Weigh In On AutoNation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AN. Invesco Ltd. increased its stake in shares of 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 last quarter. Wedge Capital Management L L P NC raised its holdings in shares of AutoNation by 47.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 342,862 shares of the company’s stock valued at $51,491,000 after purchasing an additional 109,571 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AutoNation by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,991 shares of the company’s stock valued at $45,203,000 after purchasing an additional 1,166 shares in the last quarter. Norges Bank bought a new position in shares of AutoNation during the 4th quarter valued at $42,748,000. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in shares of AutoNation by 1.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 267,650 shares of the company’s stock valued at $44,317,000 after purchasing an additional 4,720 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.

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.