Van ECK Associates Corp Takes $2.24 Million Position in AutoNation, Inc. $AN

Van ECK Associates Corp bought a new stake in AutoNation, Inc. (NYSE:AN) in the second quarter, HoldingsChannel.com reports. The firm bought 12,064 shares of the company’s stock, valued at approximately $2,241,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of AutoNation by 8.9% in the 1st quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock valued at $3,070,000 after buying an additional 1,551 shares during the period. United Services Automobile Association purchased a new stake in shares of AutoNation during the first quarter worth approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AutoNation by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock worth $15,967,000 after acquiring an additional 9,656 shares in the last quarter. Focus Partners Wealth increased its position in shares of AutoNation by 17.3% in the 1st quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock valued at $562,000 after purchasing an additional 511 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares in the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AN has been the subject of several recent analyst reports. UBS Group reaffirmed a “buy” rating and set a $248.00 price objective on shares of AutoNation in a research report on Monday, August 3rd. Stephens increased their target price on AutoNation from $220.00 to $232.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. JPMorgan Chase & Co. cut their price target on AutoNation from $235.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings raised AutoNation from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 17th. Finally, Wells Fargo & Company upped their price objective on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, AutoNation currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

Insider Transactions at AutoNation

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the transaction, the director owned 7,989 shares of the company’s stock, valued at $1,757,580. The trade was a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

AutoNation Stock Performance

NYSE AN opened at $207.51 on Friday. The company has a fifty day moving average of $202.34 and a two-hundred day moving average of $197.28. The company has a market capitalization of $6.86 billion, a PE ratio of 9.61, a P/E/G ratio of 1.00 and a beta of 0.72. AutoNation, Inc. has a 1 year low of $176.62 and a 1 year high of $235.81. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18.

AutoNation (NYSE:AN) last posted its earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, analysts expect that AutoNation, Inc. will post 21.69 earnings per share for the current year.

AutoNation Company Profile

AutoNation, Inc is the largest automotive retailer in the United States, operating a network of franchised new vehicle dealerships, pre-owned vehicle superstores and collision-repair centers. The company offers a comprehensive range of automotive products and services, including the sale of new cars and light trucks from leading manufacturers, certified pre-owned vehicles and a wide selection of used models. In addition to retail vehicle sales, AutoNation provides financing, insurance and extended service contracts through its in-house financial services division, as well as genuine and aftermarket parts, factory-recommended maintenance and collision-repair services.

Headquartered in Fort Lauderdale, Florida, AutoNation was founded in 1996 by entrepreneur H.