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

Shares of AutoNation, Inc. (NYSE:AN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $155.43 and last traded at $157.01, with a volume of 638077 shares changing hands. The stock had previously closed at $161.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AN shares. Weiss Ratings downgraded shares of AutoNation from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, September 21st. UBS Group reissued a "buy" rating and issued a $248.00 target price on shares of AutoNation in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on shares of AutoNation from $235.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, August 4th. Citigroup cut their price target on shares of AutoNation from $290.00 to $255.00 and set a "buy" rating for the company in a research note on Monday, September 21st. Finally, Seaport Research Partners restated a "buy" rating and set a $255.00 price target on shares of AutoNation in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AutoNation presently has a consensus rating of "Moderate Buy" and an average price target of $246.50.

AutoNation Stock Down 2.7%

The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.18. The firm has a 50 day simple moving average of $199.65 and a 200-day simple moving average of $195.97. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 0.78 and a beta of 0.72.

AutoNation (NYSE:AN - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, beating 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 company had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that AutoNation, Inc. will post 21.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lisa Lutoff-Perlo sold 900 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $220.00, for a total transaction of $198,000.00. Following the completion of the sale, the director directly owned 7,989 shares of the company's stock, valued at $1,757,580. This trade represents a 10.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AutoNation

A number of institutional investors and hedge funds have recently bought and sold shares of AN. QRG Capital Management Inc. grew its holdings in shares of AutoNation by 9.6% during the second quarter. QRG Capital Management Inc. now owns 12,118 shares of the company's stock worth $2,251,000 after purchasing an additional 1,062 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of AutoNation in the second quarter valued at about $207,000. Sequoia Financial Advisors LLC bought a new position in shares of AutoNation in the second quarter valued at about $256,000. Tidal Investments LLC lifted its position in AutoNation by 24.6% during the 2nd quarter. Tidal Investments LLC now owns 3,230 shares of the company's stock worth $600,000 after buying an additional 638 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its position in AutoNation by 56.0% during the 2nd quarter. Engineers Gate Manager LP now owns 39,379 shares of the company's stock worth $7,316,000 after buying an additional 14,134 shares in the last quarter. Institutional investors and hedge funds own 94.62% of the company's stock.

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.

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