Merit Financial Group LLC Has $603,000 Stock Holdings in AutoNation, Inc. (NYSE:AN)

Merit Financial Group LLC increased its holdings in AutoNation, Inc. (NYSE:AN) by 183.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,723 shares of the company’s stock after purchasing an additional 2,408 shares during the period. Merit Financial Group LLC’s holdings in AutoNation were worth $603,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AN. NewEdge Advisors LLC increased its holdings in shares of AutoNation by 25.5% during the fourth quarter. NewEdge Advisors LLC now owns 315 shares of the company’s stock worth $54,000 after buying an additional 64 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of AutoNation by 77.1% during the fourth quarter. Farther Finance Advisors LLC now owns 494 shares of the company’s stock worth $84,000 after buying an additional 215 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of AutoNation during the fourth quarter worth approximately $183,000. Curio Wealth LLC acquired a new stake in shares of AutoNation during the fourth quarter worth approximately $197,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of AutoNation during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

AutoNation Trading Up 1.1%

Shares of NYSE AN opened at $189.17 on Tuesday. The company’s fifty day moving average is $176.01 and its 200-day moving average is $176.78. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 3.51 and a beta of 0.99. AutoNation, Inc. has a twelve month low of $148.33 and a twelve month high of $198.50. 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 quarterly earnings data on Friday, April 25th. The company reported $4.68 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.33. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period last year, the business posted $4.49 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AN shares. Wall Street Zen raised shares of AutoNation from a “hold” rating to a “buy” rating in a report on Saturday, May 10th. JPMorgan Chase & Co. decreased their price target on shares of AutoNation from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Guggenheim decreased their price target on shares of AutoNation from $212.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Cfra Research raised shares of AutoNation to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Stephens increased their price target on shares of AutoNation from $195.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoNation has a consensus rating of “Moderate Buy” and an average price target of $200.75.

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.