Police & Firemen s Retirement System of New Jersey Acquires 910 Shares of AutoNation, Inc. $AN

Police & Firemen s Retirement System of New Jersey increased its holdings in AutoNation, Inc. (NYSE:AN) by 9.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,266 shares of the company’s stock after purchasing an additional 910 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in AutoNation were worth $2,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its position in AutoNation by 37.4% in the 1st 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. Parallel Advisors LLC grew its stake in shares of AutoNation by 45.3% during 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 during the last quarter. SVB Wealth LLC purchased a new position in shares of AutoNation in the first quarter worth about $86,000. IFP Advisors Inc lifted its stake in shares of AutoNation by 38.0% in the 2nd quarter. IFP Advisors Inc now owns 508 shares of the company’s stock valued at $101,000 after acquiring an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of AutoNation by 33.3% in the 2nd quarter. GAMMA Investing LLC now owns 613 shares of the company’s stock valued at $122,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 94.62% of the company’s stock.

AutoNation Stock Performance

Shares of AN stock opened at $199.61 on Thursday. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.91 and a beta of 0.87. The stock has a fifty day moving average of $209.86 and a 200 day moving average of $203.16. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The company has a quick ratio of 0.20, a current ratio of 0.79 and a debt-to-equity ratio of 1.93.

AutoNation (NYSE:AN) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $5.01 EPS for the quarter, topping the consensus estimate of $4.85 by $0.16. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.74 billion. AutoNation had a net margin of 2.38% and a return on equity of 31.84%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.02 EPS. As a group, research analysts expect that AutoNation, Inc. will post 18.15 earnings per share for the current year.

AutoNation announced that its board has authorized a stock buyback plan on Friday, October 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays initiated coverage on AutoNation in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $250.00 price target on the stock. Citigroup raised their target price on shares of AutoNation from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Bank of America decreased their target price on shares of AutoNation from $255.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Stephens increased their price target on shares of AutoNation from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company cut their price target on shares of AutoNation from $221.00 to $220.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and a consensus target price of $236.44.

AutoNation Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.