AutoNation (NYSE:AN) Shares Gap Down - Here's What Happened

AutoNation, Inc. (NYSE:AN - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $173.36, but opened at $163.00. AutoNation shares last traded at $167.65, with a volume of 175,162 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Guggenheim reduced their target price on shares of AutoNation from $212.00 to $183.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Stephens raised their price objective on shares of 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. reduced their price objective 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. StockNews.com upgraded AutoNation from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their target price on shares of AutoNation from $194.00 to $176.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $200.75.

AutoNation Price Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.21 and a current ratio of 0.74. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 3.51 and a beta of 1.15. The business has a 50 day moving average price of $168.44 and a 200-day moving average price of $172.86.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $4.68 EPS for the quarter, beating the consensus estimate of $4.35 by $0.33. The firm had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.53 billion. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. The company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $4.49 EPS. Research analysts predict that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

Hedge Funds Weigh In On AutoNation

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama lifted its position in shares of AutoNation by 142.2% during the 3rd quarter. Retirement Systems of Alabama now owns 73,429 shares of the company's stock valued at $13,138,000 after buying an additional 43,113 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in AutoNation by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 327,165 shares of the company's stock valued at $55,566,000 after buying an additional 6,277 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in AutoNation during the 4th quarter worth about $255,000. Assenagon Asset Management S.A. purchased a new stake in AutoNation in the fourth quarter valued at $13,239,000. Finally, Foster & Motley Inc. grew its position in AutoNation by 97.4% during the fourth quarter. Foster & Motley Inc. now owns 11,640 shares of the company's stock valued at $1,977,000 after buying an additional 5,742 shares during the period. Institutional investors own 94.62% of the company's stock.

AutoNation Company Profile

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.