AutoNation Inc. (AN) Moves Lower on Volume Spike for January 10

AutoNation Inc. (AN) Moves Lower on Volume Spike for January 10

AutoNation Inc. (AN) traded on unusually high volume on Jan. 10, as the stock lost 0.92% to close at $36.57. On the day, AutoNation Inc. saw 1.14 million shares trade hands on 10,410 trades. Considering that the stock averages only a daily volume of 711,126 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $62.02 and $32.87 over the last 52-weeks, its 50-day SMA is now $37.17, and its 200-day SMA $43.79. AutoNation Inc. has a P/B ratio of 1.26. It also has a P/E ratio of 7.5.

AutoNation is the largest automotive dealer in the United States, with 2017 revenue of $21.5 billion and over 250 dealerships in 16 states, primarily in Sun Belt metropolitan areas. New-vehicle sales account for about 57% of revenue; the company also sells used vehicles, parts, and repair services, as well as auto financing. The company (formerly Republic Industries) spun off its waste management unit (Republic Services) in 1999 and its car rental businesses (ANC Rental) in 2000.

Headquartered in Fort Lauderdale, FL, AutoNation Inc. has 26,000 employees and is currently under the leadership of CEO Michael J. Jackson.

Share:
Scroll Up
error: Content is protected !!