Asbury Automotive Group Inc (ABG) Debt Trading 0.5% Lower

An issue of Asbury Automotive Group Inc (NYSE:ABG) debt fell 0.5% against its face value during trading on Thursday. The high-yield issue of debt has a 6% coupon and is set to mature on December 15, 2024. The debt is now trading at $103.50 and was trading at $105.88 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

Several equities research analysts recently issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective (down previously from $68.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $58.00 price objective (down previously from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Craig Hallum reaffirmed a “hold” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Finally, TheStreet raised shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $56.75.

Asbury Automotive Group Inc (ABG) traded down $0.55 during trading on Thursday, reaching $61.70. 206,088 shares of the company’s stock were exchanged, compared to its average volume of 238,776. The firm has a market cap of $1,290.00, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.55. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.38 and a current ratio of 1.25. Asbury Automotive Group Inc has a 52-week low of $49.10 and a 52-week high of $71.00.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 24th. The company reported $1.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.09). The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a return on equity of 42.24% and a net margin of 2.54%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. analysts forecast that Asbury Automotive Group Inc will post 6.28 earnings per share for the current year.

In other Asbury Automotive Group news, Director Dennis E. Clements sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the completion of the transaction, the director now owns 20,531 shares of the company’s stock, valued at approximately $1,204,348.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joel Alsfine sold 200,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $62.00, for a total transaction of $12,400,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,384 shares of company stock valued at $16,620,080. Company insiders own 11.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $1,291,000. Aperio Group LLC increased its holdings in shares of Asbury Automotive Group by 0.7% during the 2nd quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock worth $402,000 after purchasing an additional 51 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Asbury Automotive Group by 8.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 171,667 shares of the company’s stock worth $10,318,000 after purchasing an additional 13,156 shares during the period. Chicago Equity Partners LLC increased its holdings in shares of Asbury Automotive Group by 98.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 35,080 shares of the company’s stock worth $1,984,000 after purchasing an additional 17,420 shares during the period. Finally, River Road Asset Management LLC increased its holdings in shares of Asbury Automotive Group by 34.6% during the 2nd quarter. River Road Asset Management LLC now owns 478,834 shares of the company’s stock worth $27,078,000 after purchasing an additional 122,969 shares during the period.

ILLEGAL ACTIVITY NOTICE: This report was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/17/asbury-automotive-group-inc-abg-debt-trading-0-5-lower.html.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Receive News & Ratings for Asbury Automotive Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply