Institute for Wealth Management LLC. Invests $2.09 Million in AutoNation, Inc. $AN

Institute for Wealth Management LLC. purchased a new position in shares of AutoNation, Inc. (NYSE:AN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,118 shares of the company’s stock, valued at approximately $2,089,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. bought a new stake in shares of AutoNation during the third quarter worth about $1,140,000. Simcoe Capital Management LLC acquired a new position in shares of AutoNation in the third quarter worth approximately $18,988,000. Davis Capital Management acquired a new position in shares of AutoNation in the third quarter worth approximately $2,024,000. 44 Wealth Management LLC acquired a new position in shares of AutoNation in the third quarter worth approximately $1,378,000. Finally, Dynasty Wealth Management LLC lifted its stake in shares of AutoNation by 65.2% in the third quarter. Dynasty Wealth Management LLC now owns 6,991 shares of the company’s stock worth $1,529,000 after acquiring an additional 2,759 shares during the period. 94.62% of the stock is currently owned by institutional investors.

AutoNation Price Performance

Shares of AN opened at $208.08 on Friday. AutoNation, Inc. has a 52-week low of $155.29 and a 52-week high of $228.92. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.22 and a current ratio of 0.84. The business’s 50 day moving average price is $195.86 and its two-hundred day moving average price is $204.63. The firm has a market cap of $7.14 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, February 6th. The company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.17. AutoNation had a return on equity of 31.69% and a net margin of 2.35%.The firm had revenue of $6.93 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. The company’s revenue was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that AutoNation, Inc. will post 18.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America assumed coverage on AutoNation in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Stephens lifted their price objective on AutoNation from $228.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. raised AutoNation from a “neutral” rating to an “overweight” rating and set a $235.00 price objective on the stock in a research note on Friday, January 16th. Citigroup cut their price objective on AutoNation from $280.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company cut their price objective on AutoNation from $230.00 to $207.00 and set an “equal weight” rating on the stock in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $244.33.

AutoNation Profile

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.