AutoNation, Inc. $AN Stock Position Lowered by Strs Ohio

Strs Ohio lowered its position in shares of AutoNation, Inc. (NYSE:AN) by 91.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 657 shares of the company’s stock after selling 6,941 shares during the quarter. Strs Ohio’s holdings in AutoNation were worth $144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brave Warrior Advisors LLC raised its holdings in shares of AutoNation by 7.5% in the 2nd quarter. Brave Warrior Advisors LLC now owns 1,214,510 shares of the company’s stock worth $241,262,000 after purchasing an additional 84,455 shares in the last quarter. Invesco Ltd. grew its position in AutoNation by 20.6% in the second quarter. Invesco Ltd. now owns 815,931 shares of the company’s stock worth $162,085,000 after buying an additional 139,363 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of AutoNation by 51.8% in the second quarter. AQR Capital Management LLC now owns 631,744 shares of the company’s stock valued at $125,439,000 after buying an additional 215,577 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AutoNation by 0.3% during 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 during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of AutoNation by 219.6% during the 2nd quarter. Squarepoint Ops LLC now owns 316,923 shares of the company’s stock worth $62,957,000 after acquiring an additional 217,774 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.

AutoNation Stock Performance

AN stock opened at $208.72 on Wednesday. The firm has a 50 day simple moving average of $211.81 and a 200 day simple moving average of $210.11. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The stock has a market cap of $7.61 billion, a P/E ratio of 12.28 and a beta of 0.88. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79.

AutoNation declared that its Board of Directors has approved a share repurchase plan on Friday, October 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AN. Morgan Stanley boosted their target price on AutoNation from $225.00 to $233.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Barclays dropped their price target on AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective for the company in a research note on Friday, January 16th. Citigroup lifted their target price on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Evercore ISI boosted their price target on shares of AutoNation from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned 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 $243.67.

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.