AutoNation (NYSE:AN) Sets New 52-Week Low – Here’s Why

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

Analyst Upgrades and Downgrades

AN has been the topic of a number of research reports. Stephens increased 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. Wells Fargo & Company boosted their price target on shares of AutoNation from $202.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Argus upped their price objective on AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Citigroup reduced their price objective on AutoNation from $290.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Finally, Northcoast Research upgraded AutoNation from a “neutral” rating to a “buy” rating and set a $240.00 target price for the company in a report on Tuesday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, AutoNation currently has an average rating of “Moderate Buy” and an average price target of $246.50.

AutoNation Trading Up 4.7%

The company’s fifty day moving average is $197.88 and its two-hundred day moving average is $195.64. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 0.76 and a beta of 0.82. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 2.68.

AutoNation (NYSE:AN) last issued its quarterly earnings results on Friday, July 31st. The company reported $5.56 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that AutoNation, Inc. will post 21.69 EPS for the current fiscal year.

Insider Activity

In other news, Director Lisa Lutoff-Perlo sold 900 shares of AutoNation stock in a transaction on Wednesday, August 5th. The shares were 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 approximately $1,757,580. The trade was a 10.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of AutoNation

A number of hedge funds and other institutional investors have recently bought and sold shares of AN. The Manufacturers Life Insurance Company purchased a new stake in AutoNation during the second quarter worth approximately $3,474,000. Engineers Gate Manager LP boosted its holdings in AutoNation by 56.0% in the second quarter. Engineers Gate Manager LP now owns 39,379 shares of the company’s stock valued at $7,316,000 after purchasing an additional 14,134 shares in the last quarter. Hsbc Holdings PLC increased its stake in AutoNation by 967.8% in the second quarter. Hsbc Holdings PLC now owns 18,750 shares of the company’s stock valued at $3,483,000 after purchasing an additional 16,994 shares during the last quarter. PDT Partners LLC purchased a new position in AutoNation in the second quarter valued at approximately $2,824,000. Finally, Jupiter Topco LLC acquired a new stake in AutoNation during the second quarter worth approximately $2,000,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

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.