AutoNation, Inc. (AN) Shares Bought by Aberdeen Asset Management PLC UK
Aberdeen Asset Management PLC UK grew its stake in shares of AutoNation, Inc. (NYSE:AN) by 33.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 32,183 shares of the company’s stock after buying an additional 8,088 shares during the period. Aberdeen Asset Management PLC UK’s holdings in AutoNation were worth $1,357,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of AutoNation by 13.1% during the second quarter. Wells Fargo & Company MN now owns 217,710 shares of the company’s stock valued at $9,178,000 after buying an additional 25,196 shares during the last quarter. CIBC World Markets Inc. acquired a new position in shares of AutoNation during the second quarter valued at about $278,000. Commonwealth Bank of Australia raised its position in shares of AutoNation by 40.4% during the second quarter. Commonwealth Bank of Australia now owns 34,034 shares of the company’s stock valued at $1,434,000 after buying an additional 9,800 shares during the last quarter. Atlantic Trust Group LLC raised its position in shares of AutoNation by 4.7% during the second quarter. Atlantic Trust Group LLC now owns 153,996 shares of the company’s stock valued at $6,493,000 after buying an additional 6,964 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of AutoNation by 0.5% during 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 buying an additional 24 shares during the last quarter. 73.42% of the stock is owned by institutional investors and hedge funds.
AutoNation, Inc. (NYSE AN) opened at 46.89 on Wednesday. The company has a 50-day moving average of $42.99 and a 200 day moving average of $41.95. AutoNation, Inc. has a 52-week low of $38.20 and a 52-week high of $53.74. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 11.68 and a beta of 1.22.
AutoNation (NYSE:AN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.12). The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.56 billion. AutoNation had a net margin of 1.90% and a return on equity of 16.71%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities research analysts anticipate that AutoNation, Inc. will post $3.59 EPS for the current year.
AutoNation declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 29th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other AutoNation news, Director Robert R. Grusky sold 2,800 shares of the business’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 of the company’s stock, valued at approximately $1,197,499.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.
Several research firms recently issued reports on AN. Morgan Stanley dropped their price target on shares of AutoNation from $57.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. BidaskClub raised shares of AutoNation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Wells Fargo & Company reissued a “market perform” rating and issued a $45.00 price target (down previously from $48.50) on shares of AutoNation in a research report on Monday, July 17th. ValuEngine lowered shares of AutoNation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Deutsche Bank AG dropped their price target on shares of AutoNation from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.70.
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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