AutoNation, Inc. (NYSE:AN) Sees Significant Growth in Short Interest

AutoNation, Inc. (NYSE:AN) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 2,680,000 shares, a growth of 5.1% from the September 15th total of 2,550,000 shares. Currently, 9.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 374,500 shares, the days-to-cover ratio is currently 7.2 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of AutoNation from $160.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company dropped their target price on shares of AutoNation from $187.00 to $181.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Bank of America dropped their target price on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday. Stephens assumed coverage on shares of AutoNation in a research report on Thursday, September 12th. They issued an “overweight” rating and a $210.00 target price on the stock. Finally, Morgan Stanley raised shares of AutoNation from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $145.00 to $200.00 in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, AutoNation presently has a consensus rating of “Moderate Buy” and an average price target of $200.38.

Insiders Place Their Bets

In other AutoNation news, major shareholder Edward S. Lampert sold 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $182.06, for a total transaction of $91,030.00. Following the sale, the insider now directly owns 3,825,338 shares in the company, valued at approximately $696,441,036.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Edward S. Lampert sold 39,194 shares of AutoNation stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $183.43, for a total value of $7,189,355.42. Following the transaction, the insider now owns 3,786,144 shares of the company’s stock, valued at $694,492,393.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Edward S. Lampert sold 500 shares of AutoNation stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $182.06, for a total transaction of $91,030.00. Following the completion of the transaction, the insider now directly owns 3,825,338 shares in the company, valued at $696,441,036.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,256 shares of company stock worth $17,641,954. 0.74% of the stock is owned by corporate insiders.

Institutional Trading of AutoNation

Institutional investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC lifted its stake in shares of AutoNation by 1.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,436 shares of the company’s stock worth $866,000 after buying an additional 65 shares during the last quarter. Sei Investments Co. lifted its stake in shares of AutoNation by 0.5% in the second quarter. Sei Investments Co. now owns 15,130 shares of the company’s stock worth $2,413,000 after buying an additional 72 shares during the last quarter. Retirement Systems of Alabama increased its position in AutoNation by 0.3% during the first quarter. Retirement Systems of Alabama now owns 32,570 shares of the company’s stock worth $5,393,000 after acquiring an additional 84 shares during the period. Davis Capital Management increased its position in AutoNation by 0.9% during the second quarter. Davis Capital Management now owns 9,532 shares of the company’s stock worth $1,543,000 after acquiring an additional 84 shares during the period. Finally, QRG Capital Management Inc. increased its position in AutoNation by 1.7% during the second quarter. QRG Capital Management Inc. now owns 5,047 shares of the company’s stock worth $804,000 after acquiring an additional 85 shares during the period. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Stock Down 0.2 %

AN traded down $0.37 on Thursday, reaching $169.60. 106,450 shares of the company traded hands, compared to its average volume of 414,623. The stock’s 50 day moving average price is $171.42 and its 200-day moving average price is $167.55. AutoNation has a 52-week low of $123.81 and a 52-week high of $197.18. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 3.25 and a beta of 1.19. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.78 and a quick ratio of 0.21.

AutoNation (NYSE:AN) last posted its earnings results on Wednesday, July 31st. The company reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.31 by ($0.32). The business had revenue of $6.48 billion during the quarter, compared to analyst estimates of $6.72 billion. AutoNation had a net margin of 2.93% and a return on equity of 36.50%. AutoNation’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. On average, sell-side analysts expect that AutoNation will post 17.64 EPS for the current fiscal year.

AutoNation Company 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.