AutoNation, Inc. (NYSE:AN – Get Rating) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 6,950,000 shares, an increase of 9.8% from the October 15th total of 6,330,000 shares. Based on an average trading volume of 972,900 shares, the short-interest ratio is currently 7.1 days. Approximately 21.4% of the shares of the stock are sold short.
AutoNation Trading Down 0.4 %
Shares of NYSE AN traded down $0.44 during trading on Wednesday, hitting $120.25. 591,258 shares of the company traded hands, compared to its average volume of 882,424. AutoNation has a 1 year low of $94.92 and a 1 year high of $135.57. The company has a 50-day moving average price of $107.66 and a 200-day moving average price of $114.82. The firm has a market capitalization of $5.96 billion, a P/E ratio of 4.92, a P/E/G ratio of 0.78 and a beta of 1.12. The company has a quick ratio of 0.42, a current ratio of 1.05 and a debt-to-equity ratio of 1.57.
Analyst Upgrades and Downgrades
Several research firms have commented on AN. Guggenheim lifted their target price on shares of AutoNation to $154.00 in a research note on Tuesday, November 1st. JPMorgan Chase & Co. cut shares of AutoNation from an “overweight” rating to a “neutral” rating and set a $125.00 target price for the company. in a research note on Thursday, October 6th. Wells Fargo & Company lowered their target price on shares of AutoNation from $123.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. Bank of America lowered their target price on shares of AutoNation from $250.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, September 9th. Finally, Stephens lifted their target price on shares of AutoNation to $130.00 in a research note on Monday, July 25th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.
Insider Activity
In other news, major shareholder Edward S. Lampert sold 36,680 shares of AutoNation stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $118.83, for a total transaction of $4,358,684.40. Following the completion of the sale, the insider now directly owns 7,200,482 shares in the company, valued at approximately $855,633,276.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Edward S. Lampert sold 36,680 shares of AutoNation stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $118.83, for a total transaction of $4,358,684.40. Following the completion of the transaction, the insider now directly owns 7,200,482 shares in the company, valued at approximately $855,633,276.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edward S. Lampert sold 75,756 shares of AutoNation stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $110.49, for a total value of $8,370,280.44. Following the transaction, the insider now owns 7,124,726 shares of the company’s stock, valued at $787,210,975.74. The disclosure for this sale can be found here. In the last three months, insiders sold 672,429 shares of company stock worth $72,214,712. Company insiders own 0.64% of the company’s stock.
Institutional Trading of AutoNation
Several institutional investors have recently made changes to their positions in AN. Vanguard Group Inc. boosted its position in AutoNation by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 4,820,370 shares of the company’s stock worth $480,012,000 after purchasing an additional 123,772 shares during the period. BlackRock Inc. boosted its position in AutoNation by 14.8% during the 3rd quarter. BlackRock Inc. now owns 4,051,225 shares of the company’s stock worth $412,698,000 after purchasing an additional 522,990 shares during the period. Goldman Sachs Group Inc. boosted its position in AutoNation by 29.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,505,122 shares of the company’s stock worth $149,880,000 after purchasing an additional 338,288 shares during the period. State Street Corp boosted its position in AutoNation by 2.9% during the 3rd quarter. State Street Corp now owns 1,154,274 shares of the company’s stock worth $117,586,000 after purchasing an additional 32,750 shares during the period. Finally, AQR Capital Management LLC boosted its position in AutoNation by 7.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,008,532 shares of the company’s stock worth $111,685,000 after purchasing an additional 66,127 shares during the period. 81.09% of the stock is owned by hedge funds and other institutional investors.
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.