Auto Dealerships

(PAG) Penske Automotive Group Stays Neutral

On May 1, we maintained our Neutral recommendation on Penske Automotive Group Inc. (PAG) based on its wide range of imported and luxury brands, which helps it to maintain a strong foothold in the U.S. and overseas markets. However,...

16May2013 | | Comments Off on (PAG) Penske Automotive Group Stays Neutral | Continued

(KMX) CarMax Beats – Stock Hits 52-week High

CarMax Inc. (KMX) posted a profit of $107.2 million or 46 cents per share in the fourth quarter of fiscal 2013 ended Feb 28, 2013, barely exceeding the Zacks Consensus Estimate by a penny. Profits increased 12.8% from $95.0 million...

18Apr2013 | | Comments Off on (KMX) CarMax Beats – Stock Hits 52-week High | Continued

(SAH) Sonic Automotive – Momentum

Sonic Automotive (SAH) has been advancing thanks to solid third quarter results, a raised full-year outlook, an impressive debt profile and improving market conditions. The automotive retailer reached a 52-week high of $23.28 on January 4. With...

15Jan2013 | | Comments Off on (SAH) Sonic Automotive – Momentum | Continued

(LAD) Lithia Motors Increases Credit Facility

Lithia Motors Inc. (LAD) announced that it has increased its five-year revolving syndicated credit facility by $150 million to $800 million with ten institutions. The credit facility is expected to mature in April 2017.

The...

26Dec2012 | | Comments Off on (LAD) Lithia Motors Increases Credit Facility | Continued

(AN) AutoNation Misses Earnings Estimates

AutoNation Inc. (AN) witnessed a 37.5% increase in earnings per share to 66 cents in the third quarter of 2012 from 48 cents in the corresponding quarter last year. However, profits missed the Zacks Consensus Estimate by a penny. In...

25Oct2012 | | Comments Off on (AN) AutoNation Misses Earnings Estimates | Continued

(AN) AutoNation Sales Climb 23% in September

AutoNation Inc. (AN) has registered outstanding new vehicles sales in September 2012. Sales in the month rose 23% year over year to 22,982 vehicles. The growth was attributable to higher demand for imported vehicles along with higher...

17Oct2012 | | Comments Off on (AN) AutoNation Sales Climb 23% in September | Continued

(CPRT) Copart Beats Earnings Estimates

Copart, Inc. (CPRT) witnessed a 20.7% rise in earnings to 35 cents per share in the fiscal fourth quarter ended July 31, 2012 from 29 cents per share in the corresponding quarter last year. The company’s earnings surpassed the Zacks...

9Oct2012 | | Comments Off on (CPRT) Copart Beats Earnings Estimates | Continued

(AN) AutoNation’s Sales Soar in August

AutoNation Inc. (AN) recorded an outstanding performance in new vehicle sales in August. Sales in the month rose 28% year over year to 23,213 vehicles. The meteoric rise was attributable to higher demand for both imported and domestic...

10Sep2012 | | Comments Off on (AN) AutoNation’s Sales Soar in August | Continued

(AN) AutoNation Incorporated – Bull of the Day

AutoNation, Inc. (AN) is the largest automotive retailer in U.S. The company s optimal brand and market mix is pulling new vehicle sales higher as the market revives. In the second quarter of 2012, the company’s profits surged...

28Aug2012 | | Comments Off on (AN) AutoNation Incorporated – Bull of the Day | Continued

(AN) AutoNation’s June Sales Climb 38%

AutoNation Inc. (AN) witnessed an outstanding performance in new vehicle sales in June 2012 compared with the corresponding month last year. Sales in the month soared 38% year over year to 22,862 vehicles. The hike was attributable...

10Jul2012 | | Comments Off on (AN) AutoNation’s June Sales Climb 38% | Continued

(GPI) Group 1 Automotive Appraises Hail Storm Damages

Group 1 Automotive (GPI) announced that it is evaluating the extent of damage at seven out of its eight import and domestic dealerships in Oklahoma City, OK caused by the hail storm on May 29.

According to the assessment, some...

6Jun2012 | | Comments Off on (GPI) Group 1 Automotive Appraises Hail Storm Damages | Continued

(AN) AutoNation Posts Sales Increase of 15%

AutoNation Inc. (AN) posted a 15% increase in new vehicle sales to 25,489 units in March 2012 compared with the same month in the previous year. The company recorded improvement in sales in all of its segments.

Sales in the Domestic...

19Apr2012 | | Comments Off on (AN) AutoNation Posts Sales Increase of 15% | Continued

(AN) AutoNation Beats Expectations – Earnings Rise 13%

AutoNation Inc. (AN) saw a profit of $71 million or 51 cents per share in the fourth quarter of 2011 compared with $68 million or 45 cents per share in the comparable quarter of 2010 (excluding debt refinancing costs of $1 million or...

30Jan2012 | | 0 comments | Continued

(AN) AutoNation Driven By Luxury Brand Sales

AutoNation Inc. (AN) revealed an 11% rise in new vehicle sales to 24,342 units in December last year, mainly driven by strong sales growth in its Premium Luxury brands.

Sales...

14Jan2012 | | 0 comments | Continued

(AN) Stock Market News for January 5, 2012 – Market News

Major indices of the American stock markets closed flat on Wednesday after experiencing a strong rally on the first trading day of the Year. Euro zone worries were not strong enough for markets to move southwards. Retail stocks surged after Christmas sales figures increased 5.3% on a year over year...

5Jan2012 | | 0 comments | Continued

(AN) AutoNation Analyst Maintains Neutral on Shares

We have retained a Neutral recommendation on AutoNation, Inc. (AN). We appreciate the company’s optimal brand and market mix, which is pushing up new vehicle sales as the market revives. However, we are concerned about tough competition...

12Oct2011 | | 0 comments | Continued

(KMX) CarMax Second Quarter Earnings Preview

CarMax Inc. (KMX) announced that it would release its results for the second quarter of fiscal 2012 that ended on August 31, 2011 before the market opens on September 22, 2011. Richmond, VA-based CarMax earned a profit of 55 cents...

21Sep2011 | | 0 comments | Continued

(AN) AutoNation’s June Sales Rise 3%

AutoNation Inc. (AN), the largest automotive retailer in the U.S., is about twice the size of its nearest competitor. It recently announced its sales results for June 2011.  The company’s retail new vehicle unit sales for the month...

8Jul2011 | | 0 comments | Continued

(AN) AutoNation Remains Neutral

We reiterate our Neutral recommendation on AutoNation Inc. (AN), which is the largest automotive retailer in the U.S. and almost twice the size of its nearest competitor. The company sells 31 different brands of new vehicles, its core...

26Jun2011 | | 0 comments | Continued

(KMX) CarMax Profits on Heightened Sales

CarMax Inc.(KMX) posted a 25% rise in profit to $126.3 million or 55 cents per share in the first quarter of the fiscal year ended May 31, 2011from $101.1 million or 44 cents per share in the prior fiscal year-quarter. The profit exceeded...

23Jun2011 | | 0 comments | Continued

(AN) AutoNation Sales Dip on Supply Crunch

AutoNation Inc. (AN) reported a 15% fall in new vehicle sales to 16,347 vehicles in May due to shortages in supply of vehicles, especially from Japan that accounts for 52% of its sales. The Japanese automotive industry has been hit...

15Jun2011 | | 0 comments | Continued

(AN) AutoNation Announces $250 Million Increase to Share Buyback

AutoNation Inc. (AN) announced that its board of directors has authorized the repurchase of up to an additional $250 million of common stock under its existing share buyback program. This has increased the total authorized amount under...

9May2011 | | 0 comments | Continued

(AN) AutoNation Reports Strong Earnings Results for 2011 First Quarter

AutoNation Inc. (AN) reported net income of $70.3 million or 46 cents per share from continuing operations for the first quarter of 2011, compared with $58.8 million or 34 cents in the year-ago period.

The company also exceeded...

28Apr2011 | | 0 comments | Continued

(KMX) CarMax Quarterly Earnings Exceed by a Penny

CarMax Inc.(KMX) posted a profit of $89.5 million or 39 cents per share in the fourth quarter of fiscal 2011 ended February 28, 2011, barely exceeding the Zacks Consensus Estimate by a penny. The profit increased 83% from $48.8 million...

9Apr2011 | | 0 comments | Continued

(KMX) U.S. Retail Sales Meet High Expectations

Retail Sales were in line with high expectations for February. Total retail sales rose 1.0%, and are up 8.9% from a year ago. January was revised up from 0.3% growth to 0.7% growth. That was a major positive surprise.

The Retail Sales report covers far more than just the shopping malls and...

17Mar2011 | | 0 comments | Continued

(KMX) U.S. January Retail Sales Disappoint Analysts

Retail Sales were weaker than expected in January. Total retail sales rose 0.3%, below the 0.5% consensus expectation, and are up 7.8% from a year ago. December was revised down from 0.6% growth to 0.5% growth.

The Retail Sales report covers far more than just the shopping...

15Feb2011 | | 0 comments | Continued

(KMX) CarMax Third Quarter 2011 Earnings Scorecard

CarMax Inc. (KMX) reported its earnings for the third quarter of its fiscal year 2011, ended November 30, 2010, on December 21, 2010, barely surpassing the Zacks Consensus Estimate by 2 cents per share. However, the market reacted...

2Jan2011 | | 0 comments | Continued

(KMX) CarMax Surpasses Quarterly Earnings Estimates

CarMax Inc. (KMX) posted a profit of $82.4 million or 36 cents per share in the third quarter of its fiscal 2011, barely surpassing the Zacks Consensus Estimate of 34 cents per share. The profit was higher than $74.6 million or 33...

25Dec2010 | | 0 comments | Continued

(AN) AutoNation Reports New Retail Vehicle Sales Up 16%

AutoNation Inc. (AN) sold 15,511 retail new vehicles in November, a 16% rise from the year-ago level. The sales growth was higher than 12% increase in sales in the U.S. auto industry, excluding sales to fleet buyers including  rental...

6Dec2010 | | 0 comments | Continued

(AN) AutoNation Quarterly Earnigs Miss Expectations

AutoNation Inc. (AN) reported a 9% fall in net income to $58.5 million for the third quarter of 2010 from $64.4 million in the year-ago period. However, on earnings per share basis, profit rose 8% to 39 cents from 36 cents in the third...

3Nov2010 | | 0 comments | Continued