Allspring Global Investments Holdings LLC Cuts Holdings in AutoNation, Inc. $AN

Allspring Global Investments Holdings LLC lowered its position in AutoNation, Inc. (NYSE:AN) by 12.5% in the third quarter, HoldingsChannel reports. The fund owned 67,331 shares of the company’s stock after selling 9,630 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AutoNation were worth $15,052,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AN. HM Payson & Co. purchased a new position in shares of AutoNation in the 3rd quarter valued at about $31,000. Geneos Wealth Management Inc. grew its holdings in AutoNation by 37.4% in the first quarter. Geneos Wealth Management Inc. now owns 235 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the period. Parallel Advisors LLC increased its position in shares of AutoNation by 45.3% in the second quarter. Parallel Advisors LLC now owns 375 shares of the company’s stock valued at $74,000 after buying an additional 117 shares in the last quarter. IFP Advisors Inc raised its stake in shares of AutoNation by 38.0% during the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock worth $101,000 after buying an additional 140 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of AutoNation by 33.3% during the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock valued at $122,000 after buying an additional 153 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price target on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. Wall Street Zen cut shares of AutoNation from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Morgan Stanley upped their price target on shares of AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Barclays started coverage on shares of AutoNation in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on AutoNation from $221.00 to $220.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.00.

AutoNation Trading Down 0.0%

Shares of AutoNation stock opened at $206.42 on Monday. 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 stock’s 50 day simple moving average is $205.03 and its 200-day simple moving average is $208.85. The stock has a market cap of $7.53 billion, a P/E ratio of 12.14 and a beta of 0.88. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $228.92.

AutoNation (NYSE:AN) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.16. The firm had revenue of $7.04 billion for 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 firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.02 earnings per share. Analysts predict that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

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

AutoNation Company 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.