AutoNation (NYSE:AN) Hits New 1-Year Low - Here's What Happened

Key Points

• AutoNation shares fell to a new 52-week low, trading as low as $172.58 versus a prior close of $195.37.
• Despite the selloff, analysts maintain a “Moderate Buy” consensus with an average price target of $250; ten analysts rate the stock Buy and two rate it Hold.
• AutoNation slightly beat quarterly EPS estimates, reporting $5.56 versus $5.48 expected, but revenue of $6.93 billion was below estimates and declined 0.6% year over year.

AutoNation, Inc. (NYSE:AN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $172.58 and last traded at $174.8430, with a volume of 2027156 shares. The stock had previously closed at $195.37.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of AutoNation from $255.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Stephens raised their target price on shares of AutoNation from $220.00 to $232.00 and gave the stock an "equal weight" rating in a report on Monday, August 10th. Seaport Research Partners restated a "buy" rating and issued a $255.00 target price on shares of AutoNation in a research note on Monday, August 3rd. Wells Fargo & Company upped their target price on AutoNation from $202.00 to $224.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Weiss Ratings lowered AutoNation from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, September 3rd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $250.00.

AutoNation Price Performance

The company has a market capitalization of $5.78 billion, a P/E ratio of 8.10, a PEG ratio of 0.95 and a beta of 0.72. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68. The business has a 50 day simple moving average of $205.25 and a 200-day simple moving average of $197.56.

AutoNation (NYSE:AN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping the consensus estimate of $5.48 by $0.08. AutoNation had a net margin of 2.82% and a return on equity of 31.24%. The business had revenue of $6.93 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The company's quarterly revenue was down .6% on a year-over-year basis. Analysts predict that AutoNation, Inc. will post 21.69 EPS for the current fiscal year.

Insider Buying and Selling

In other AutoNation news, Director Lisa Lutoff-Perlo sold 900 shares of the company's stock in a transaction dated 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 approximately $1,757,580. This represents a 10.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On AutoNation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its position in shares of AutoNation by 73.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company's stock valued at $36,000 after purchasing an additional 82 shares during the period. Bessemer Group Inc. lifted its holdings in shares of AutoNation by 33.0% in the first quarter. Bessemer Group Inc. now owns 306 shares of the company's stock valued at $59,000 after buying an additional 76 shares during the period. Global Retirement Partners LLC bought a new position in AutoNation during the second quarter valued at about $63,000. Monetary Solutions Ltd bought a new position in AutoNation during the fourth quarter valued at about $64,000. Finally, Hantz Financial Services Inc. grew its holdings in AutoNation by 59.4% during the fourth quarter. Hantz Financial Services Inc. now owns 400 shares of the company's stock worth $83,000 after acquiring an additional 149 shares during the period. 94.62% of the stock is currently owned by institutional investors and hedge funds.

AutoNation Company Profile

AutoNation, Inc is a leading automotive retailer in the United States. The company sells new and used vehicles through a network of franchised dealerships and provides automotive services including vehicle financing, insurance products, maintenance, repair, parts, and collision-repair services.

In addition to its manufacturer-branded dealerships, AutoNation operates AutoNation USA locations focused primarily on used vehicles and offers digital tools that allow customers to research, purchase, finance, and service vehicles online.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.