Bank of Nova Scotia Makes New $1.68 Million Investment in AutoNation, Inc. (NYSE:AN)

Bank of Nova Scotia purchased a new position in shares of AutoNation, Inc. (NYSE:AN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,900 shares of the company's stock, valued at approximately $1,681,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in AutoNation during the fourth quarter worth $38,136,000. Boston Partners boosted its stake in AutoNation by 12.6% during the 4th quarter. Boston Partners now owns 1,814,228 shares of the company's stock valued at $309,312,000 after purchasing an additional 203,335 shares during the last quarter. Alliancebernstein L.P. increased its holdings in AutoNation by 23.3% during the 4th quarter. Alliancebernstein L.P. now owns 851,870 shares of the company's stock worth $144,682,000 after purchasing an additional 160,794 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of AutoNation in the fourth quarter worth approximately $13,239,000. Finally, Raymond James Financial Inc. bought a new position in shares of AutoNation in the fourth quarter valued at approximately $7,836,000. Institutional investors and hedge funds own 94.62% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on AN. Wells Fargo & Company increased their price objective on shares of AutoNation from $170.00 to $194.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Evercore ISI boosted their price objective on AutoNation from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Stephens raised their target price on AutoNation from $195.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of AutoNation from $195.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Guggenheim reiterated a "buy" rating on shares of AutoNation in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, AutoNation presently has an average rating of "Moderate Buy" and an average price target of $201.86.

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AutoNation Stock Performance

Shares of NYSE AN traded down $1.88 during midday trading on Wednesday, hitting $162.02. The company's stock had a trading volume of 336,464 shares, compared to its average volume of 458,291. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 3.51 and a beta of 1.15. The company has a current ratio of 0.74, a quick ratio of 0.21 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $172.46 and a 200 day moving average price of $172.81. AutoNation, Inc. has a one year low of $148.33 and a one year high of $198.50.

AutoNation (NYSE:AN - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.26 by $0.71. AutoNation had a return on equity of 30.48% and a net margin of 2.59%. On average, research analysts forecast that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

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.