Edward S. Lampert Sells 23,287 Shares of AutoNation, Inc. (NYSE:AN) Stock
AutoNation, Inc. (NYSE:AN – Get Rating) major shareholder Edward S. Lampert sold 23,287 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $120.31, for a total value of $2,801,658.97. Following the completion of the sale, the insider now owns 8,182,070 shares in the company, valued at approximately $984,384,841.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of AN traded down $2.64 during mid-day trading on Friday, reaching $120.12. The company’s stock had a trading volume of 987,033 shares, compared to its average volume of 879,667. The company has a current ratio of 1.16, a quick ratio of 0.55 and a debt-to-equity ratio of 1.51. AutoNation, Inc. has a 52 week low of $88.32 and a 52 week high of $133.48. The company’s fifty day moving average price is $113.76 and its two-hundred day moving average price is $113.17. The stock has a market cap of $7.37 billion, a PE ratio of 5.56, a P/E/G ratio of 0.21 and a beta of 1.14.
AutoNation (NYSE:AN – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The company reported $5.78 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.39. AutoNation had a net margin of 5.60% and a return on equity of 59.93%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts anticipate that AutoNation, Inc. will post 23.2 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of AutoNation by 2.6% in the first quarter. Vanguard Group Inc. now owns 4,820,370 shares of the company’s stock worth $480,012,000 after buying an additional 123,772 shares during the period. Goldman Sachs Group Inc. grew its holdings in AutoNation by 29.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,505,122 shares of the company’s stock worth $149,880,000 after acquiring an additional 338,288 shares during the last quarter. Invesco Ltd. increased its position in shares of AutoNation by 4.2% in the first quarter. Invesco Ltd. now owns 908,463 shares of the company’s stock valued at $90,466,000 after acquiring an additional 36,620 shares during the period. Marshall Wace LLP raised its stake in shares of AutoNation by 745.6% during the fourth quarter. Marshall Wace LLP now owns 769,812 shares of the company’s stock valued at $89,950,000 after acquiring an additional 678,780 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of AutoNation by 163.6% during the fourth quarter. Barclays PLC now owns 672,262 shares of the company’s stock worth $78,553,000 after purchasing an additional 417,243 shares during the period. 84.44% of the stock is owned by institutional investors.
Several analysts have weighed in on AN shares. StockNews.com raised AutoNation from a “buy” rating to a “strong-buy” rating in a report on Friday, May 27th. JPMorgan Chase & Co. raised shares of AutoNation from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $140.00 to $130.00 in a research note on Thursday, April 7th. Wells Fargo & Company increased their price target on shares of AutoNation from $137.00 to $153.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Morgan Stanley lowered their price objective on shares of AutoNation from $108.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, May 20th. Finally, Truist Financial upgraded shares of AutoNation from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $140.00 in a research report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $146.71.
AutoNation Company Profile (Get Rating)
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.
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