Texas Permanent School Fund Corp Increases Holdings in AutoNation, Inc. $AN

Texas Permanent School Fund Corp boosted its holdings in AutoNation, Inc. (NYSE:AN) by 14.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,737 shares of the company’s stock after purchasing an additional 3,656 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of AutoNation worth $5,709,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its stake in AutoNation by 37.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after purchasing an additional 64 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of AutoNation by 45.3% in the second quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock worth $74,000 after purchasing an additional 117 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of AutoNation in the first quarter worth about $86,000. IFP Advisors Inc grew its holdings in AutoNation by 38.0% during the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock valued at $101,000 after buying an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in AutoNation by 33.3% in the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock worth $122,000 after acquiring an additional 153 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Price Performance

AN stock opened at $207.59 on Wednesday. The stock has a market cap of $7.57 billion, a PE ratio of 12.21, a P/E/G ratio of 0.95 and a beta of 0.89. AutoNation, Inc. has a 12 month low of $148.33 and a 12 month high of $228.92. The company has a 50-day moving average price of $206.56 and a 200 day moving average price of $207.05. The company has a current ratio of 0.79, a quick ratio of 0.20 and a debt-to-equity ratio of 1.93.

AutoNation (NYSE:AN) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.85 by $0.16. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.02 EPS. Equities research analysts anticipate that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation announced that its Board of Directors has authorized a stock repurchase program on Friday, October 31st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

AN has been the subject of a number of recent research reports. Barclays began coverage on shares of AutoNation in a report on Tuesday, November 11th. They issued an “overweight” rating and a $250.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of AutoNation from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Morgan Stanley upped their target price on shares of AutoNation from $225.00 to $233.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Evercore ISI increased their price target on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Finally, Bank of America reduced their price objective on AutoNation from $255.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.00.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.