AutoNation (NYSE:AN) Shares Down 4% – Here’s What Happened

AutoNation, Inc. (NYSE:AN) fell 4% on Thursday . The company traded as low as $193.81 and last traded at $187.6440. Approximately 155,438 shares changed hands during trading, a decline of 63% from the average daily volume of 418,086 shares. The stock had previously closed at $195.37.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AN. Argus upped their target price on AutoNation from $241.00 to $246.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lowered their price objective on shares of AutoNation from $235.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Barclays upped their price objective on shares of AutoNation from $255.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Wells Fargo & Company increased their target price on shares of AutoNation from $202.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Stephens lifted their target price on shares of AutoNation from $220.00 to $232.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.00.

AutoNation Price Performance

The firm has a fifty day moving average of $205.60 and a two-hundred day moving average of $197.70. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $5.85 billion, a PE ratio of 8.16, a PEG ratio of 0.98 and a beta of 0.72.

AutoNation (NYSE:AN) last announced its quarterly earnings results on Friday, July 31st. The company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $0.08. AutoNation had a return on equity of 31.24% and a net margin of 2.82%.The business had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Research analysts anticipate that AutoNation, Inc. will post 21.69 EPS for the current fiscal year.

Insider Activity at AutoNation

In related 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 value of $198,000.00. Following the transaction, the director directly owned 7,989 shares of the company’s stock, valued at $1,757,580. The trade was a 10.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AutoNation

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of AutoNation in the second quarter worth about $438,689,000. Dimensional Fund Advisors LP grew its position in shares of AutoNation by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,478,991 shares of the company’s stock worth $288,784,000 after buying an additional 56,641 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AutoNation by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 517,514 shares of the company’s stock worth $106,878,000 after buying an additional 14,204 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of AutoNation by 8.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 383,615 shares of the company’s stock valued at $74,905,000 after buying an additional 30,725 shares during the period. Finally, Norges Bank purchased a new position in shares of AutoNation during the fourth quarter valued at approximately $69,319,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

About AutoNation

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.