Scouring for Dents in AutoNation
Shares of AutoNation (AN) have been driving higher all year, powered by increasing vehicle sales and aggressive share buybacks. But with the stock within 2 points of an all-time high, is now the time to get in, or is the company about to skid off the road?
AutoNation has been the perfect leveraged bet for playing the trend of improving auto sales. As these sales improved, the company revved up the stock-buyback machine. Hedge fund investors noticed the double whammy and went along for the ride -- 38% for 2012. Investors in CarMax (KMX) haven't been as lucky; that stock is up just 3 points for the year. Meanwhile, investors in General Motors (GM) and Ford (F) are in need of a tow truck....236 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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