AutoNation (AN)

• Market cap: $6.75B
• 1 day: 0.25%
• 5 days: -0.61%
• 1 month: 3.24%
• 3 months: -2.41%
• 6 months: 5.20%
• Year to date: 12.94%
• 1 year: 15.08%
• 5 years: 230.47%
• 10 years: 190.28%
• Sector: Consumer Discretionary
• Industry: Auto Dealers & Gasoline Stations

About: AutoNation is the second largest automotive dealer in the United States, with 2023 revenue of about $27 billion and over 250 dealerships, plus 53 collision centers. The firm also has 23 AutoNation USA used-vehicle stores, a captive lender, four auction sites, and three parts distributors all across 21 states primarily in Sunbelt metropolitan areas. New-vehicle sales account for nearly half of revenue; the company also sells used vehicles, parts, and repair services as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000. Wayne Huizenga founded the company in the 1990s to bring the rollup acquisition strategy to auto retailing, which has proved to be a smart move.

Employees: 25,300

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

200% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 3 (+2) [Q3]

10% more capital invested

Capital invested by funds: $4.05B [Q2] → $4.44B (+$389M) [Q3]

1% less repeat investments, than reductions

Existing positions increased: 153 | Existing positions reduced: 154

4% less call options, than puts

Call options by funds: $42M | Put options by funds: $43.6M

1.21% less ownership

Funds ownership: 63.05% [Q2] → 61.84% (-1.21%) [Q3]

4% less funds holding

Funds holding: 447 [Q2] → 431 (-16) [Q3]

24% less first-time investments, than exits

New positions opened: 52 | Existing positions closed: 68

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $180 6% upside
• Avg. target: $194 14% upside
• High target: $215 26% upside

6 analyst ratings

• positive: 4 67%
• neutral: 2 33%
• negative: 0 0%

Seaport Global Glenn Chin 20% 1-year accuracy 1 / 5 met price target	18% upside $200	Buy Maintained	22 Nov 2024
Guggenheim Ali Faghri 60% 1-year accuracy 3 / 5 met price target	11% upside $189	Buy Maintained	21 Nov 2024
JP Morgan Rajat Gupta 86% 1-year accuracy 24 / 28 met price target	6% upside $180	Neutral Maintained	5 Nov 2024
Wells Fargo Colin Langan 24% 1-year accuracy 8 / 33 met price target	6% upside $181	Equal-Weight Maintained	15 Oct 2024
B of A Securities John Murphy 57% 1-year accuracy 24 / 42 met price target	26% upside $215	Buy Maintained	14 Oct 2024