CIBC Asset Management Inc Makes New Investment in AutoNation, Inc. (NYSE:AN)

CIBC Asset Management Inc purchased a new stake in AutoNation, Inc. (NYSE:AN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,222 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors also recently modified their holdings of the company. Boston Partners acquired a new stake in AutoNation in the 1st quarter valued at approximately $170,270,000. WINTON GROUP Ltd acquired a new stake in shares of AutoNation in the second quarter worth $15,832,000. Lodge Hill Capital LLC bought a new position in AutoNation during the second quarter worth $15,141,000. International Assets Investment Management LLC acquired a new position in AutoNation during the 3rd quarter valued at $131,250,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in AutoNation by 4,275.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 50,107 shares of the company’s stock valued at $7,986,000 after purchasing an additional 51,307 shares during the period. Institutional investors own 94.62% of the company’s stock.

Insider Activity

In related news, major shareholder Edward S. Lampert sold 39,194 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $183.43, for a total transaction of $7,189,355.42. Following the completion of the sale, the insider now directly owns 3,786,144 shares of the company’s stock, valued at $694,492,393.92. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AN has been the topic of several research reports. Bank of America dropped their price objective on shares of AutoNation from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. cut their price target on AutoNation from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Guggenheim decreased their price objective on AutoNation from $190.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company cut their target price on AutoNation from $187.00 to $181.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Finally, Stephens initiated coverage on shares of AutoNation in a research note on Thursday, September 12th. They set an “overweight” rating and a $210.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.29.

AutoNation Stock Performance

Shares of NYSE:AN opened at $172.41 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.80 and a quick ratio of 0.20. The business’s fifty day moving average price is $167.28 and its two-hundred day moving average price is $168.34. AutoNation, Inc. has a fifty-two week low of $130.35 and a fifty-two week high of $197.18. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 3.42 and a beta of 1.21.

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.