Bank of New York Mellon Corp Sells 9,445 Shares of AutoNation, Inc. $AN

Bank of New York Mellon Corp decreased its holdings in AutoNation, Inc. (NYSE:AN) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,894 shares of the company’s stock after selling 9,445 shares during the period. Bank of New York Mellon Corp’s holdings in AutoNation were worth $38,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its position in shares of AutoNation by 8.9% during the first quarter. Royal Bank of Canada now owns 18,953 shares of the company’s stock worth $3,070,000 after acquiring an additional 1,551 shares during the period. United Services Automobile Association purchased a new stake in shares of AutoNation in the first quarter valued at approximately $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AutoNation by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,610 shares of the company’s stock valued at $15,967,000 after purchasing an additional 9,656 shares during the period. Focus Partners Wealth grew its stake in AutoNation by 17.3% in the first quarter. Focus Partners Wealth now owns 3,472 shares of the company’s stock worth $562,000 after purchasing an additional 511 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in AutoNation by 37.4% in 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 in the last quarter. 94.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AN shares. Wells Fargo & Company reduced their price objective on AutoNation from $208.00 to $202.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. UBS Group began coverage on AutoNation in a research report on Wednesday, May 27th. They set a “buy” rating and a $234.00 price target on the stock. Northcoast Research upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price target on the stock in a research note on Tuesday, July 14th. Weiss Ratings upgraded AutoNation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their price objective on AutoNation from $255.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.18.

Insiders Place Their Bets

In related news, CAO Kimberly Dees sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $204.91, for a total transaction of $512,275.00. Following the sale, the chief accounting officer owned 1,456 shares of the company’s stock, valued at $298,348.96. This trade represents a 63.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

AutoNation Stock Up 1.6%

Shares of NYSE AN opened at $208.28 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.20 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $6.97 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.75. The stock’s fifty day simple moving average is $192.22 and its two-hundred day simple moving average is $198.30. AutoNation, Inc. has a 12-month low of $176.62 and a 12-month high of $228.92.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Friday, May 1st. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.71 by ($0.02). The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.65 billion. AutoNation had a net margin of 2.47% and a return on equity of 31.45%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.68 earnings per share. As a group, analysts expect that AutoNation, Inc. will post 21.41 EPS for the current fiscal year.

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.