Asbury Automotive Group (NYSE:ABG) had its price objective raised by Morgan Stanley from $53.00 to $63.00 in a research note published on Wednesday, March 14th. Morgan Stanley currently has an underweight rating on the stock.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Asbury Automotive Group from a buy rating to a hold rating in a report on Monday, March 12th. Craig Hallum raised their target price on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a hold rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $65.40.
ABG traded down $1.30 during trading on Wednesday, reaching $66.50. 275,892 shares of the company traded hands, compared to its average volume of 180,589. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.23 and a quick ratio of 0.45. Asbury Automotive Group has a 12-month low of $49.10 and a 12-month high of $76.40. The firm has a market cap of $1,390.71, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm posted $1.56 EPS. The company’s revenue was up .3% on a year-over-year basis. sell-side analysts anticipate that Asbury Automotive Group will post 7.52 earnings per share for the current year.
In related news, SVP George Karolis sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $69.54, for a total value of $219,051.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig T. Monaghan sold 28,575 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $68.70, for a total value of $1,963,102.50. Following the completion of the sale, the director now owns 86,112 shares of the company’s stock, valued at $5,915,894.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,825 shares of company stock valued at $3,488,688. 1.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of ABG. Cornerstone Capital Management Holdings LLC. bought a new stake in Asbury Automotive Group in the fourth quarter worth $102,000. Victory Capital Management Inc. lifted its position in Asbury Automotive Group by 39.1% in the third quarter. Victory Capital Management Inc. now owns 3,067 shares of the company’s stock worth $187,000 after buying an additional 862 shares during the last quarter. Balter Liquid Alternatives LLC bought a new stake in Asbury Automotive Group in the fourth quarter worth $200,000. Public Employees Retirement System of Ohio lifted its position in Asbury Automotive Group by 10.2% in the second quarter. Public Employees Retirement System of Ohio now owns 3,673 shares of the company’s stock worth $208,000 after buying an additional 340 shares during the last quarter. Finally, Ingalls & Snyder LLC bought a new stake in Asbury Automotive Group in the fourth quarter worth $218,000.
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Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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