Asbury Automotive Group (NYSE:ABG) – Stock analysts at Jefferies Group lifted their Q2 2018 earnings per share estimates for Asbury Automotive Group in a research note issued to investors on Tuesday, April 24th. Jefferies Group analyst B. Jordan now expects that the company will earn $1.98 per share for the quarter, up from their prior forecast of $1.97. Jefferies Group also issued estimates for Asbury Automotive Group’s Q3 2018 earnings at $1.96 EPS, Q4 2018 earnings at $2.03 EPS, FY2018 earnings at $7.90 EPS, Q1 2019 earnings at $1.96 EPS, Q2 2019 earnings at $2.04 EPS, Q4 2019 earnings at $2.10 EPS and FY2019 earnings at $8.15 EPS.
Other analysts have also issued reports about the company. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, April 11th. Buckingham Research raised their target price on Asbury Automotive Group from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday. Craig Hallum raised their target price on Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley increased their price target on Asbury Automotive Group from $53.00 to $63.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.00.
Shares of ABG stock opened at $70.40 on Thursday. The stock has a market capitalization of $1,449.29, a PE ratio of 10.95, a PEG ratio of 0.84 and a beta of 1.55. Asbury Automotive Group has a fifty-two week low of $49.10 and a fifty-two week high of $76.40. The company has a current ratio of 1.23, a quick ratio of 0.45 and a debt-to-equity ratio of 2.19.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, April 24th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.58 billion. Asbury Automotive Group had a return on equity of 40.15% and a net margin of 2.23%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 earnings per share.
In related news, SVP George Karolis sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $69.54, for a total value of $219,051.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig T. Monaghan sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total value of $1,028,550.00. Following the completion of the sale, the director now directly owns 86,112 shares of the company’s stock, valued at approximately $5,904,699.84. The disclosure for this sale can be found here. Insiders have sold 50,825 shares of company stock worth $3,488,688 in the last quarter. 1.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ABG. BlackRock Inc. increased its stake in Asbury Automotive Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 2,517,622 shares of the company’s stock worth $161,128,000 after acquiring an additional 20,767 shares during the last quarter. SG Americas Securities LLC increased its stake in Asbury Automotive Group by 149.9% during the fourth quarter. SG Americas Securities LLC now owns 10,648 shares of the company’s stock worth $681,000 after acquiring an additional 6,387 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Asbury Automotive Group by 8.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 211,375 shares of the company’s stock worth $13,528,000 after acquiring an additional 15,951 shares during the last quarter. Wells Fargo & Company MN increased its stake in Asbury Automotive Group by 37.2% during the fourth quarter. Wells Fargo & Company MN now owns 34,637 shares of the company’s stock worth $2,217,000 after acquiring an additional 9,396 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Asbury Automotive Group by 4,111.5% during the third quarter. Cubist Systematic Strategies LLC now owns 8,423 shares of the company’s stock worth $515,000 after acquiring an additional 8,223 shares during the last quarter.
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About Asbury Automotive Group
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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