Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $90.00.
A number of analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Craig Hallum lifted their target price on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 29th. ValuEngine cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Asbury Automotive Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Finally, Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Thursday, August 1st.
In other Asbury Automotive Group news, VP William Frederick Stax sold 424 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $90.35, for a total value of $38,308.40. Following the transaction, the vice president now owns 3,464 shares of the company’s stock, valued at $312,972.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jed Milstein sold 900 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $92.52, for a total value of $83,268.00. Following the completion of the transaction, the senior vice president now directly owns 10,374 shares in the company, valued at approximately $959,802.48. The disclosure for this sale can be found here. Insiders have sold 12,324 shares of company stock worth $1,129,466 in the last ninety days. 1.36% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in ABG. Point72 Asset Management L.P. acquired a new position in Asbury Automotive Group in the second quarter valued at about $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Asbury Automotive Group in the second quarter worth about $60,000. Bank of Montreal Can increased its holdings in shares of Asbury Automotive Group by 26.1% in the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after acquiring an additional 209 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Asbury Automotive Group in the first quarter worth about $110,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Asbury Automotive Group in the second quarter worth about $182,000.
Asbury Automotive Group stock traded down $1.47 during midday trading on Friday, reaching $100.33. The stock had a trading volume of 188,658 shares, compared to its average volume of 156,207. Asbury Automotive Group has a 12 month low of $58.60 and a 12 month high of $103.92. The company has a market capitalization of $1.96 billion, a P/E ratio of 11.93, a PEG ratio of 0.76 and a beta of 1.25. The company has a fifty day moving average price of $92.55 and a two-hundred day moving average price of $80.71. The company has a current ratio of 1.20, a quick ratio of 0.34 and a debt-to-equity ratio of 1.68.
Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Friday, July 26th. The company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.11. Asbury Automotive Group had a return on equity of 35.08% and a net margin of 2.57%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $2.08 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Asbury Automotive Group will post 9.31 earnings per share for the current fiscal year.
About Asbury Automotive Group
Asbury Automotive Group, Inc, together with its subsidiaries, 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 services, replacement parts, and collision repair services.
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