Emmett Investment Management LP Takes Position in AutoNation, Inc. $AN

Emmett Investment Management LP purchased a new stake in AutoNation, Inc. (NYSE:AN) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,640 shares of the company’s stock, valued at approximately $3,496,000. AutoNation makes up approximately 2.5% of Emmett Investment Management LP’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds have also bought and sold shares of AN. HM Payson & Co. bought a new stake in AutoNation in the 3rd quarter valued at about $31,000. Root Financial Partners LLC bought a new position in shares of AutoNation during the third quarter worth approximately $37,000. Smartleaf Asset Management LLC raised its position in shares of AutoNation by 355.3% in the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock valued at $38,000 after buying an additional 135 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after buying an additional 64 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of AutoNation in the third quarter valued at approximately $48,000. 94.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AN. Morgan Stanley increased their price target on AutoNation from $233.00 to $238.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Wells Fargo & Company increased their target price on AutoNation from $222.00 to $230.00 and gave the stock an “equal weight” rating in a report on Sunday, February 8th. Bank of America started coverage on AutoNation in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. Stephens boosted their price target on AutoNation from $228.00 to $232.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings downgraded shares of AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.67.

AutoNation Trading Down 0.7%

Shares of AN stock opened at $183.39 on Friday. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The stock’s fifty day moving average price is $205.23 and its two-hundred day moving average price is $209.37. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.22 and a current ratio of 0.84. The company has a market cap of $6.37 billion, a PE ratio of 10.75 and a beta of 0.89.

AutoNation (NYSE:AN) last posted its quarterly earnings results on Friday, February 6th. The company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The company had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the previous year, the firm earned $4.97 EPS. AutoNation’s revenue was down 3.9% on a year-over-year basis. Equities analysts predict that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation 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.