Algert Global LLC Has $10.13 Million Stock Holdings in AutoNation, Inc. $AN

Algert Global LLC boosted its position in AutoNation, Inc. (NYSE:AN) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,307 shares of the company’s stock after acquiring an additional 6,887 shares during the period. Algert Global LLC owned 0.13% of AutoNation worth $10,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in AutoNation during the 3rd quarter worth $31,000. Root Financial Partners LLC bought a new position in shares of AutoNation in the 3rd quarter worth $37,000. Smartleaf Asset Management LLC grew its stake in shares of AutoNation by 355.3% during the third quarter. Smartleaf Asset Management LLC now owns 173 shares of the company’s stock worth $38,000 after purchasing an additional 135 shares during the period. Geneos Wealth Management Inc. grew its stake 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 period. Finally, Employees Retirement System of Texas bought a new stake in AutoNation in the third quarter valued at about $48,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America assumed coverage on AutoNation in a report on Wednesday, March 4th. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price target for the company in a research note on Friday, January 16th. Weiss Ratings downgraded shares of AutoNation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Morgan Stanley lifted their price objective on shares of AutoNation from $233.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Barclays decreased their price objective on shares of AutoNation from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.67.

AutoNation Price Performance

Shares of AN opened at $183.39 on Monday. The stock has a 50 day simple moving average of $205.23 and a 200 day simple moving average of $209.28. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $228.92. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.22 and a current ratio of 0.84. The firm has a market capitalization of $6.37 billion, a PE ratio of 10.75 and a beta of 0.89.

AutoNation (NYSE:AN) last announced its earnings results on Friday, February 6th. The company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.91 by $0.17. AutoNation had a net margin of 2.35% and a return on equity of 31.69%. The firm had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the company posted $4.97 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts predict that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation Profile

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.