Pinebridge Investments L.P. Makes New Investment in AutoNation, Inc. (NYSE:AN)

Pinebridge Investments L.P. bought a new position in shares of AutoNation, Inc. (NYSE:AN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,186 shares of the company’s stock, valued at approximately $1,900,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its stake in AutoNation by 12.6% in the fourth quarter. Boston Partners now owns 1,814,228 shares of the company’s stock worth $309,312,000 after purchasing an additional 203,335 shares during the period. Alliancebernstein L.P. grew its position in shares of AutoNation by 23.3% in the 4th quarter. Alliancebernstein L.P. now owns 851,870 shares of the company’s stock worth $144,682,000 after buying an additional 160,794 shares during the period. Geode Capital Management LLC increased its stake in shares of AutoNation by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 435,363 shares of the company’s stock worth $73,965,000 after acquiring an additional 1,633 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in AutoNation by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,165 shares of the company’s stock valued at $55,566,000 after acquiring an additional 6,277 shares during the period. Finally, Norges Bank bought a new stake in AutoNation during the fourth quarter worth about $38,136,000. Institutional investors own 94.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of AutoNation from $195.00 to $175.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. StockNews.com raised AutoNation from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company reduced their price target on AutoNation from $194.00 to $176.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Citigroup initiated coverage on shares of AutoNation in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $217.00 price target on the stock. Finally, Guggenheim reduced their price objective on shares of AutoNation from $212.00 to $183.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, AutoNation has an average rating of “Moderate Buy” and a consensus price target of $200.75.

AutoNation Stock Performance

Shares of NYSE AN opened at $175.14 on Monday. The firm’s 50-day moving average price is $169.09 and its 200-day moving average price is $172.80. AutoNation, Inc. has a 52-week low of $148.33 and a 52-week high of $198.50. The company has a market cap of $6.87 billion, a PE ratio of 10.34, a PEG ratio of 3.51 and a beta of 1.15. The company has a quick ratio of 0.21, a current ratio of 0.74 and a debt-to-equity ratio of 1.39.

AutoNation (NYSE:AN) last issued its earnings results on Friday, April 25th. The company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.33. The company had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.53 billion. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. During the same quarter last year, the company posted $4.49 earnings per share. As a group, analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current year.

About AutoNation

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.