Cresset Asset Management LLC Makes New Investment in AutoNation, Inc. $AN

Cresset Asset Management LLC bought a new stake in AutoNation, Inc. (NYSE:AN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,659 shares of the company’s stock, valued at approximately $1,019,000.

A number of other hedge funds have also recently modified their holdings of the stock. Crestwood Advisors Group LLC lifted its position in AutoNation by 3.2% in the third quarter. Crestwood Advisors Group LLC now owns 2,076 shares of the company’s stock valued at $454,000 after acquiring an additional 64 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of AutoNation by 37.4% during the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock worth $38,000 after purchasing an additional 64 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of AutoNation by 1.4% during the third quarter. Concurrent Investment Advisors LLC now owns 5,540 shares of the company’s stock worth $1,212,000 after purchasing an additional 77 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of AutoNation by 7.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,192 shares of the company’s stock valued at $237,000 after purchasing an additional 78 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of AutoNation by 0.4% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,457 shares of the company’s stock valued at $3,865,000 after purchasing an additional 80 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AN shares. Weiss Ratings downgraded AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their price objective on AutoNation from $222.00 to $230.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. Morgan Stanley increased their price objective on AutoNation from $233.00 to $238.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Barclays lowered their target price on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 target price on the stock in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, AutoNation presently has an average rating of “Moderate Buy” and an average price target of $248.67.

AutoNation Stock Up 0.6%

AN opened at $193.81 on Tuesday. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The business has a 50 day moving average price of $206.79 and a two-hundred day moving average price of $210.20. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 2.39. The company has a market cap of $6.73 billion, a PE ratio of 11.36 and a beta of 0.89.

AutoNation (NYSE:AN) last released its earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the company posted $4.97 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current year.

About AutoNation

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.