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Strength Seen in AutoNation (AN): Can Its 6.1% Jump Turn into More Strength?
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AutoNation (AN - Free Report) shares soared 6.1% in the last trading session to close at $137.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.5% gain over the past four weeks.
AutoNation is riding on its $190 million buyout of RepairSmith, completed last week. The deal will strengthen AutoNation’s after-sales business. It will enhance the company’s speed to frontline readiness and expedite deliveries to customers.
This auto retailer is expected to post quarterly earnings of $5.89 per share in its upcoming report, which represents a year-over-year change of +2.3%. Revenues are expected to be $6.38 billion, down 3.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AutoNation, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AN going forward to see if this recent jump can turn into more strength down the road.
AutoNation is a member of the Zacks Automotive - Retail and Whole Sales industry. One other stock in the same industry, Titan Machinery (TITN - Free Report) , finished the last trading session 1.9% higher at $44.91. TITN has returned 11.1% over the past month.
For Titan Machinery, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. This represents a change of +8.1% from what the company reported a year ago. Titan Machinery currently has a Zacks Rank of #3 (Hold).
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Strength Seen in AutoNation (AN): Can Its 6.1% Jump Turn into More Strength?
AutoNation (AN - Free Report) shares soared 6.1% in the last trading session to close at $137.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.5% gain over the past four weeks.
AutoNation is riding on its $190 million buyout of RepairSmith, completed last week. The deal will strengthen AutoNation’s after-sales business. It will enhance the company’s speed to frontline readiness and expedite deliveries to customers.
This auto retailer is expected to post quarterly earnings of $5.89 per share in its upcoming report, which represents a year-over-year change of +2.3%. Revenues are expected to be $6.38 billion, down 3.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AutoNation, the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AutoNation is a member of the Zacks Automotive - Retail and Whole Sales industry. One other stock in the same industry, Titan Machinery (TITN - Free Report) , finished the last trading session 1.9% higher at $44.91. TITN has returned 11.1% over the past month.
For Titan Machinery, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. This represents a change of +8.1% from what the company reported a year ago. Titan Machinery currently has a Zacks Rank of #3 (Hold).