Merit Financial Group LLC Purchases New Stake in AutoNation, Inc. (NYSE:AN)

Merit Financial Group LLC acquired a new position in shares of AutoNation, Inc. (NYSE:AN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,315 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds have also recently bought and sold shares of AN. State Street Corp lifted its position in shares of AutoNation by 2.3% during the 3rd quarter. State Street Corp now owns 854,034 shares of the company’s stock worth $152,804,000 after buying an additional 19,037 shares during the last quarter. Geode Capital Management LLC raised its stake in AutoNation by 4.5% during the third quarter. Geode Capital Management LLC now owns 433,730 shares of the company’s stock worth $77,623,000 after acquiring an additional 18,588 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AutoNation by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,888 shares of the company’s stock worth $57,413,000 after acquiring an additional 19,015 shares during the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of AutoNation in the 3rd quarter valued at approximately $42,255,000. Finally, Holocene Advisors LP acquired a new stake in shares of AutoNation in the 3rd quarter valued at approximately $20,046,000. 94.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AN. Stephens cut shares of AutoNation from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $200.00 to $192.00 in a research report on Friday. Bank of America lowered their price target on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Guggenheim cut their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on AutoNation from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their target price on AutoNation from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.14.

AutoNation Stock Down 1.4 %

Shares of NYSE:AN opened at $182.67 on Monday. The firm has a market cap of $7.24 billion, a P/E ratio of 10.53, a P/E/G ratio of 3.50 and a beta of 1.26. AutoNation, Inc. has a 12-month low of $136.35 and a 12-month high of $197.18. The business has a fifty day simple moving average of $175.10 and a 200 day simple moving average of $171.91. The company has a quick ratio of 0.20, a current ratio of 0.80 and a debt-to-equity ratio of 1.58.

AutoNation 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.