Franklin Resources Inc. Has $5.26 Million Position in AutoNation, Inc. $AN

Franklin Resources Inc. lifted its holdings in AutoNation, Inc. (NYSE:ANFree Report) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,478 shares of the company’s stock after acquiring an additional 1,718 shares during the period. Franklin Resources Inc. owned approximately 0.07% of AutoNation worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AutoNation by 7.2% in the first quarter. Vanguard Group Inc. now owns 3,256,308 shares of the company’s stock worth $527,261,000 after purchasing an additional 219,474 shares in the last quarter. Boston Partners grew its position in shares of AutoNation by 8.3% during the 1st quarter. Boston Partners now owns 1,964,187 shares of the company’s stock worth $318,749,000 after buying an additional 149,959 shares during the period. Invesco Ltd. grew its position in shares of AutoNation by 2.3% during the 1st quarter. Invesco Ltd. now owns 676,568 shares of the company’s stock worth $109,550,000 after buying an additional 15,112 shares during the period. Geode Capital Management LLC increased its stake in shares of AutoNation by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 455,690 shares of the company’s stock valued at $90,535,000 after acquiring an additional 1,442 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of AutoNation by 144.6% during the 1st quarter. AQR Capital Management LLC now owns 416,167 shares of the company’s stock valued at $65,950,000 after acquiring an additional 245,994 shares during the period. Institutional investors own 94.62% of the company’s stock.

AutoNation Trading Down 0.4%

AN opened at $210.40 on Tuesday. AutoNation, Inc. has a fifty-two week low of $148.33 and a fifty-two week high of $228.92. The firm has a market capitalization of $7.67 billion, a PE ratio of 12.38, a P/E/G ratio of 0.91 and a beta of 0.87. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.79 and a quick ratio of 0.20. The company’s 50-day moving average is $207.93 and its 200 day moving average is $204.77.

AutoNation (NYSE:ANGet Free Report) last released its quarterly earnings results on Thursday, October 23rd. The company reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.16. The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.74 billion. AutoNation had a return on equity of 31.84% and a net margin of 2.38%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.02 EPS. As a group, research analysts predict that AutoNation, Inc. will post 18.15 earnings per share for the current fiscal year.

AutoNation announced that its board has approved a share repurchase plan on Friday, October 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Evercore ISI raised their price target on shares of AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Barclays began coverage on shares of AutoNation in a report on Tuesday, November 11th. They set an “overweight” rating and a $250.00 price objective on the stock. Morgan Stanley raised their target price on AutoNation from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company decreased their target price on AutoNation from $221.00 to $220.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. Finally, Guggenheim cut their price target on AutoNation from $230.00 to $228.00 and set a “buy” rating on the stock in a report on Monday, August 11th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

View Our Latest Report on AN

AutoNation Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoNation (NYSE:AN)

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