AutoNation (NYSE:AN) Sets New 12-Month Low – What’s Next?

Shares of AutoNation, Inc. (NYSE:AN) hit a new 52-week low during trading on Wednesday. The company traded as low as $152.39 and last traded at $153.26, with a volume of 23,617 shares traded. The stock had previously closed at $155.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AN shares. Weiss Ratings lowered AutoNation from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, September 21st. Argus lifted their price target on AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lowered their price objective on AutoNation from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Northcoast Research raised AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 price objective for the company in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company increased their price objective on AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.00.

AutoNation Stock Up 4.3%

The firm’s 50-day moving average price is $186.24 and its two-hundred day moving average price is $193.52. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.18 and a current ratio of 0.78. The firm has a market cap of $5.28 billion, a PE ratio of 7.53, a P/E/G ratio of 0.75 and a beta of 0.81.

AutoNation (NYSE:AN) last posted its earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The firm had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm posted $2.26 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that AutoNation, Inc. will post 21.42 EPS for the current fiscal year.

Insider Transactions at AutoNation

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $220.00, for a total value of $198,000.00. Following the completion of the transaction, the director owned 7,989 shares in the company, valued at $1,757,580. This represents a 10.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of AutoNation

A number of hedge funds and other institutional investors have recently made changes to their positions in AN. Assenagon Asset Management S.A. boosted its position in shares of AutoNation by 90.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,771 shares of the company’s stock valued at $4,845,000 after purchasing an additional 14,600 shares during the period. Davis Capital Management increased its position in AutoNation by 0.7% during the third quarter. Davis Capital Management now owns 9,712 shares of the company’s stock worth $1,529,000 after buying an additional 68 shares during the period. Farther Finance Advisors LLC increased its position in AutoNation by 14.3% during the third quarter. Farther Finance Advisors LLC now owns 744 shares of the company’s stock worth $117,000 after buying an additional 93 shares during the period. Apella Capital LLC acquired a new position in AutoNation during the third quarter worth approximately $205,000. Finally, Marathon Mission Inc. lifted its stake in AutoNation by 17.6% in the third quarter. Marathon Mission Inc. now owns 1,976 shares of the company’s stock valued at $311,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 94.62% of the company’s stock.

About AutoNation

AutoNation, Inc is an automotive retailer headquartered in Fort Lauderdale, Florida. The company sells new and used vehicles through a network of franchised dealerships representing a range of major automotive brands, as well as through digital retailing channels.

In addition to vehicle sales, AutoNation provides automotive maintenance and repair, parts, collision repair, vehicle protection products, financing assistance and other related services. Its operations support customers throughout the vehicle ownership cycle, from purchase and financing to routine service and repairs.

The company traces its origins to Republic Industries, which entered the automotive retail business in the 1990s and adopted the AutoNation name in 1998.