BlackRock Inc. Acquires 17,314 Shares of AutoNation, Inc. (AN)

BlackRock Inc. raised its holdings in AutoNation, Inc. (NYSE:AN) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,192,696 shares of the company’s stock after purchasing an additional 17,314 shares during the quarter. BlackRock Inc. owned 4.19% of AutoNation worth $176,762,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AN. Nordea Investment Management AB raised its position in shares of AutoNation by 43.8% in the first quarter. Nordea Investment Management AB now owns 3,285 shares of the company’s stock worth $139,000 after acquiring an additional 1,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of AutoNation by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,890 shares of the company’s stock worth $206,000 after acquiring an additional 24 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of AutoNation in the first quarter worth about $209,000. Invictus RG raised its position in shares of AutoNation by 58.2% in the first quarter. Invictus RG now owns 4,981 shares of the company’s stock worth $211,000 after acquiring an additional 1,833 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of AutoNation by 8.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock worth $215,000 after acquiring an additional 372 shares during the period. 73.42% of the stock is currently owned by institutional investors.

In related news, Director Robert R. Grusky sold 2,800 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $38.99, for a total value of $109,172.00. Following the completion of the sale, the director now owns 30,713 shares in the company, valued at $1,197,499.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

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AutoNation, Inc. (NYSE:AN) opened at 45.21 on Thursday. The company’s 50 day moving average is $45.92 and its 200 day moving average is $42.33. The firm has a market cap of $4.54 billion, a P/E ratio of 11.26 and a beta of 1.21. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $53.74.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.12). AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the business earned $1.08 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts forecast that AutoNation, Inc. will post $3.57 EPS for the current fiscal year.

AutoNation declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 29th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

A number of research analysts have weighed in on AN shares. Berenberg Bank started coverage on shares of AutoNation in a research report on Wednesday, October 4th. They issued a “buy” rating and a $55.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price objective on shares of AutoNation in a research report on Sunday, September 10th. ValuEngine downgraded shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of AutoNation in a research report on Friday, September 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $43.00 price objective (down previously from $46.00) on shares of AutoNation in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.20.

AutoNation Company Profile

AutoNation, Inc (AutoNation) is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles, used vehicles, parts and service, which includes automotive repair and maintenance services, as well as wholesale parts and collision businesses, and automotive finance and insurance products, including vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources.

Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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