AutoNation (AN) Shares Get Slight Boost From Strong Sales Figures; Wells Fargo Analyst Sees EPS Upside
Tweet Send to a FriendGet Alerts AN Hot Sheet
Price: $46.36 -0.45%
Rating Summary:
2 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
2 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade AN Now!
Shares of AutoNation (NYSE: AN) are getting a small pop at the open after reporting strong June sales figures.
This morning, Wells Fargo highlighted some of the strong numbers including: 1) June units up 38% year-over-year (YoY) and quarterly increase of 31%; 2) Domestic brands up 18%, imports up 45% and luxury up 21%.
Analyst, Matt Nemer, said, "AutoNation's Q2 new vehicle sales finished approximately 2% above our 65,600 estimate, which implies very modest (approximately $0.01) upside to our $0.58 Q2 estimate." (Consensus is $0.58)
Total industry figures were Domestic sales up 10%, Imports up 23% and Luxury up 15%, so AutoNation was well above the industry average.
For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.
Shares of AutoNation Inc. closed at $37.79 yesterday, with a 52 week range of $30.46-$41.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
This morning, Wells Fargo highlighted some of the strong numbers including: 1) June units up 38% year-over-year (YoY) and quarterly increase of 31%; 2) Domestic brands up 18%, imports up 45% and luxury up 21%.
Analyst, Matt Nemer, said, "AutoNation's Q2 new vehicle sales finished approximately 2% above our 65,600 estimate, which implies very modest (approximately $0.01) upside to our $0.58 Q2 estimate." (Consensus is $0.58)
Total industry figures were Domestic sales up 10%, Imports up 23% and Luxury up 15%, so AutoNation was well above the industry average.
For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.
Shares of AutoNation Inc. closed at $37.79 yesterday, with a 52 week range of $30.46-$41.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Needham & Company Maintains Underpform on HP (HPQ), Says Positives Priced In
- Goldman Sachs Downgrades Aixtron (AIXG) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Retail SalesRelated Entities
Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
