© Reuters. Here’s My Top Automotive Stock to Buy Right Now
A global chip shortage, fiscal stimulus, and low rates has created a buying frenzy for cars, especially used cards. One company this has benefited greatly is AutoNation, Inc. (NYSE:) which just saw it fifth straight record quarter. The party is expected to continue, especially with the stock trading so cheap. So, now is a great time to consider adding it to your portfolio.AutoNation, Inc. (AN) is one of the seven stocks featured in a new special report. Claim your copy now! 7 SEVERELY Undervalued Stocks
AutoNation, Inc. (AN) is the largest automotive dealer in the United States, with about 230 dealerships and over 300 locations. The firm also has six AutoNation USA used-vehicle stores, four auction sites, and 74 collision centers across 16 states, primarily in Sunbelt metropolitan areas. In addition, the company also sells used vehicles, parts, repair services, and auto financing.
The company’s second-quarter was an all-time quarterly company record. Earnings rose 243% year over year on an adjusted basis and were well above its second-quarter 2019’s adjusted EPS of $1.20. Same-store new vehicle unit volume rose 42% year over year, and used vehicle revenue grew 32% versus second-quarter 2019.
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