SummerHaven Investment Management LLC Makes New $762,000 Investment in AutoNation, Inc. $AN

SummerHaven Investment Management LLC purchased a new position in shares of AutoNation, Inc. (NYSE:AN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,841 shares of the company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AN. Engineers Gate Manager LP raised its holdings in shares of AutoNation by 56.0% during the second quarter. Engineers Gate Manager LP now owns 39,379 shares of the company’s stock worth $7,316,000 after acquiring an additional 14,134 shares during the period. The Manufacturers Life Insurance Company bought a new stake in AutoNation in the 2nd quarter valued at $3,474,000. Jupiter Topco LLC acquired a new position in AutoNation in the 2nd quarter worth $2,000,000. Hsbc Holdings PLC boosted its stake in AutoNation by 967.8% in the 2nd quarter. Hsbc Holdings PLC now owns 18,750 shares of the company’s stock worth $3,483,000 after purchasing an additional 16,994 shares during the period. Finally, PDT Partners LLC acquired a new position in AutoNation in the 2nd quarter worth $2,824,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on AutoNation from $290.00 to $255.00 and set a “buy” rating for the company in a report on Monday, September 21st. Seaport Research Partners restated a “buy” rating and issued a $255.00 price target on shares of AutoNation in a report on Monday, August 3rd. Barclays cut their price target on AutoNation from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Stephens upped their price objective on AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company increased their price objective on AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

AutoNation Price Performance

NYSE AN opened at $161.97 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. AutoNation, Inc. has a 12-month low of $151.82 and a 12-month high of $235.81. The company has a market capitalization of $5.35 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.81. The firm’s 50 day moving average is $185.29 and its 200-day moving average is $193.30.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. The business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7 billion. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Equities research analysts anticipate that AutoNation, Inc. will post 21.12 earnings per share for the current fiscal year.

Insider Transactions at AutoNation

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total transaction of $198,000.00. Following the sale, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. The trade was a 10.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

About AutoNation

AutoNation, Inc is an automotive retailer headquartered in Fort Lauderdale, Florida. The company sells new and used vehicles through a network of franchised dealerships representing a range of major automotive brands, as well as through digital retailing channels.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision repair, vehicle protection products, financing assistance and other related services. Its operations support customers throughout the vehicle ownership cycle, from purchase and financing to routine service and repairs.

The company traces its origins to Republic Industries, which entered the automotive retail business in the 1990s and adopted the AutoNation name in 1998.