AutoNation (AN) Q1 Sales Outperform on Luxury, Domestic Performance; Stifel Updates Ests
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Rating Summary:
13 Buy, 12 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Stifel affirms AutoNation (NYSE: AN) with a Hold rating after the company's recent quarterly sales update.
Analyst James Albertine commented, It seems AN new vehicle unit sales continue to impress relative to expectations and the broader industry. It also seems, based on industry sales data, premium/luxury retail outperformed the industry (on a relative basis) at retail despite significantly higher fleet sales volume (hearing more loaner vehicle at certain brands). Perhaps this read through is industry sales were weaker than headline SAAR implies, in which case we would embrace new vehicle sales deceleration as an opportunity to drive sector consolidation and would see AN as a potential beneficiary of said consolidation over time.
Albertine adjusted the following estimates: Q1 EPS from $0.90 to $0.92, FY15 from $4.04 up to $4.08, FY16 EPS from $4.53 to $4.58, and FY17 EPS from $5.00 to $5.05.
For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.
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