Retirement Systems of Alabama Purchases 3,780 Shares of AutoNation, Inc. $AN

Retirement Systems of Alabama increased its holdings in shares of AutoNation, Inc. (NYSE:AN) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,809 shares of the company’s stock after acquiring an additional 3,780 shares during the period. Retirement Systems of Alabama’s holdings in AutoNation were worth $16,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. HM Payson & Co. bought a new stake in AutoNation in the third quarter valued at $31,000. Root Financial Partners LLC bought a new stake in shares of AutoNation in the 3rd quarter worth about $37,000. Geneos Wealth Management Inc. increased its position in shares of AutoNation by 37.4% during 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 in the last quarter. SJS Investment Consulting Inc. lifted its holdings in AutoNation by 2,477.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 232 shares of the company’s stock valued at $51,000 after purchasing an additional 223 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in AutoNation by 54.1% during the 3rd quarter. True Wealth Design LLC now owns 413 shares of the company’s stock valued at $90,000 after purchasing an additional 145 shares during the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

AutoNation Stock Up 1.1%

Shares of AN opened at $214.11 on Wednesday. The business’s fifty day moving average price is $211.55 and its two-hundred day moving average price is $209.94. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 12.59 and a beta of 0.88. AutoNation, Inc. has a 52 week low of $148.33 and a 52 week high of $228.92. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.20 and a current ratio of 0.79.

AutoNation announced that its Board of Directors has authorized a stock buyback program on Friday, October 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AutoNation in a report on Monday, December 29th. Evercore ISI increased their price target on AutoNation from $240.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price target for the company in a report on Friday, January 16th. Barclays reduced their price objective on AutoNation from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Finally, Citigroup raised their target price on AutoNation from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.67.

About AutoNation

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.