PNC Financial Services Group Inc. Decreases Position in AutoNation, Inc. (NYSE:AN)

PNC Financial Services Group Inc. cut its stake in AutoNation, Inc. (NYSE:AN) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,136 shares of the company’s stock after selling 178 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AutoNation were worth $832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curat Global LLC purchased a new position in AutoNation in the 1st quarter valued at about $36,000. NewEdge Advisors LLC lifted its stake in AutoNation by 25.5% in the 4th quarter. NewEdge Advisors LLC now owns 315 shares of the company’s stock valued at $54,000 after buying an additional 64 shares in the last quarter. GAMMA Investing LLC lifted its stake in AutoNation by 81.1% in the 1st quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock valued at $74,000 after buying an additional 206 shares in the last quarter. UMB Bank n.a. lifted its stake in AutoNation by 56.8% in the 1st quarter. UMB Bank n.a. now owns 839 shares of the company’s stock valued at $136,000 after buying an additional 304 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in AutoNation by 762.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 923 shares of the company’s stock valued at $149,000 after buying an additional 816 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of AutoNation from a “hold” rating to a “buy” rating in a report on Saturday, May 10th. Wells Fargo & Company increased their price objective on shares of AutoNation from $209.00 to $221.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Guggenheim cut their price objective on shares of AutoNation from $230.00 to $228.00 and set a “buy” rating for the company in a report on Monday. Bank of America increased their price objective on shares of AutoNation from $225.00 to $255.00 and gave the company a “buy” rating in a report on Monday, June 16th. Finally, Stephens increased their price objective on shares of AutoNation from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $220.75.

AutoNation Stock Up 1.2%

Shares of NYSE AN opened at $198.64 on Tuesday. The company has a 50 day simple moving average of $198.51 and a 200-day simple moving average of $184.30. The company has a market capitalization of $7.49 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.98 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. AutoNation, Inc. has a 1 year low of $148.33 and a 1 year high of $217.40.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Friday, July 25th. The company reported $5.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.76. The business had revenue of $6.97 billion during the quarter, compared to the consensus estimate of $6.77 billion. AutoNation had a net margin of 2.31% and a return on equity of 31.12%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.99 EPS. On average, equities research analysts predict that AutoNation, Inc. will post 18.15 earnings per share for the current year.

About AutoNation

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.