AutoNation (NYSE:AN) Sees Unusually-High Trading Volume After Earnings Beat

Shares of AutoNation, Inc. (NYSE:AN) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 4,674,067 shares changed hands during trading, an increase of 456% from the previous session’s volume of 840,837 shares.The stock last traded at $46.50 and had previously closed at $41.95.

The company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.12. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.29 billion. AutoNation had a return on equity of 15.48% and a net margin of 1.87%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share.

A number of equities research analysts recently issued reports on AN shares. SunTrust Banks increased their price target on FTI Consulting to $88.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. ValuEngine downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Morgan Stanley increased their price target on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Finally, Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a research report on Sunday, July 7th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.01.

In other AutoNation news, Chairman Michael J. Jackson sold 37,104 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $41.93, for a total value of $1,555,770.72. Following the sale, the chairman now owns 204,790 shares of the company’s stock, valued at approximately $8,586,844.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert R. Grusky sold 5,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the director now directly owns 44,611 shares in the company, valued at approximately $1,784,440. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,693 shares of company stock worth $1,906,693. Company insiders own 2.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of AutoNation by 29.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,190,500 shares of the company’s stock valued at $113,965,000 after acquiring an additional 723,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AutoNation by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,051,749 shares of the company’s stock valued at $108,946,000 after acquiring an additional 256,337 shares during the last quarter. Magnolia Group LLC lifted its stake in shares of AutoNation by 0.8% in the 1st quarter. Magnolia Group LLC now owns 1,274,772 shares of the company’s stock valued at $45,535,000 after acquiring an additional 9,500 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of AutoNation by 1.0% in the 1st quarter. Private Management Group Inc. now owns 890,152 shares of the company’s stock valued at $31,796,000 after acquiring an additional 8,748 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AutoNation by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 688,848 shares of the company’s stock valued at $24,591,000 after acquiring an additional 50,750 shares during the last quarter. 65.34% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $3.75 billion, a P/E ratio of 10.36, a P/E/G ratio of 3.80 and a beta of 1.08. The company has a quick ratio of 0.18, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $41.66.

About AutoNation (NYSE:AN)

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.

Featured Article: What does an outperform rating mean?

Receive News & Ratings for AutoNation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoNation and related companies with MarketBeat.com's FREE daily email newsletter.