Dimensional Fund Advisors LP increased its position in AutoNation, Inc. (NYSE:AN) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,683,569 shares of the company’s stock after purchasing an additional 248,512 shares during the quarter. Dimensional Fund Advisors LP owned 2.94% of AutoNation worth $127,360,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake 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 valued at $206,000 after purchasing an additional 24 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of AutoNation by 0.5% in the second quarter. State of Tennessee Treasury Department now owns 18,002 shares of the company’s stock valued at $759,000 after purchasing an additional 84 shares during the period. Arizona State Retirement System boosted its stake in shares of AutoNation by 0.6% in the second quarter. Arizona State Retirement System now owns 16,291 shares of the company’s stock valued at $687,000 after purchasing an additional 100 shares during the period. Retirement Systems of Alabama boosted its stake in shares of AutoNation by 0.7% in the second quarter. Retirement Systems of Alabama now owns 31,914 shares of the company’s stock valued at $1,345,000 after purchasing an additional 209 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of AutoNation by 8.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,826 shares of the company’s stock valued at $215,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 77.81% of the company’s stock.
AutoNation, Inc. (NYSE:AN) opened at $52.57 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.73 and a quick ratio of 0.17. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $57.83. The stock has a market cap of $4,796.70, a PE ratio of 13.62, a PEG ratio of 2.18 and a beta of 1.28.
AutoNation (NYSE:AN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.16. AutoNation had a net margin of 1.87% and a return on equity of 16.40%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the firm posted $1.05 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. research analysts anticipate that AutoNation, Inc. will post 3.75 earnings per share for the current year.
AutoNation announced that its board has authorized a share buyback program on Tuesday, August 29th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, COO Lance E. Iserman sold 5,886 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $52.46, for a total value of $308,779.56. Following the transaction, the chief operating officer now directly owns 4,860 shares in the company, valued at approximately $254,955.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Edward S. Lampert sold 3,480 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $55.61, for a total transaction of $193,522.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,733 shares of company stock worth $676,747. Insiders own 3.10% of the company’s stock.
A number of research firms have commented on AN. Wells Fargo & Company reiterated a “market perform” rating and set a $50.00 price objective (up from $40.00) on shares of AutoNation in a research note on Monday, November 6th. Susquehanna Bancshares reiterated a “negative” rating on shares of AutoNation in a research note on Thursday, September 28th. ValuEngine upgraded shares of AutoNation from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Jefferies Group increased their price objective on shares of AutoNation from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. Finally, Moffett Nathanson began coverage on shares of AutoNation in a research note on Monday, December 4th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.88.
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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.
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