Asbury Automotive Group (NYSE:ABG) had its target price increased by investment analysts at SunTrust Banks from $70.00 to $100.00 in a report released on Thursday, The Fly reports. The firm currently has a “hold” rating on the stock. SunTrust Banks’ target price suggests a potential upside of 8.70% from the stock’s previous close.
A number of other research firms have also recently weighed in on ABG. TheStreet cut shares of Asbury Automotive Group from a “b-” rating to a “c+” rating in a report on Thursday, March 26th. Morgan Stanley increased their price objective on Asbury Automotive Group from $61.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, May 18th. ValuEngine raised shares of Asbury Automotive Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 14th. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday, June 9th. Finally, Craig Hallum lifted their price target on shares of Asbury Automotive Group from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $98.17.
Shares of NYSE ABG opened at $92.00 on Thursday. Asbury Automotive Group has a 12-month low of $39.36 and a 12-month high of $123.44. The stock has a market capitalization of $1.70 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 1.76. The stock’s fifty day simple moving average is $76.71 and its two-hundred day simple moving average is $79.63.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, May 5th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Asbury Automotive Group had a net margin of 2.28% and a return on equity of 28.33%. Asbury Automotive Group’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, equities analysts predict that Asbury Automotive Group will post 6.37 earnings per share for the current fiscal year.
In related news, SVP Jed Milstein sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $77.31, for a total transaction of $177,813.00. Following the sale, the senior vice president now directly owns 13,977 shares of the company’s stock, valued at approximately $1,080,561.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.01% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in Asbury Automotive Group in the first quarter worth approximately $31,000. Mutual of America Capital Management LLC raised its holdings in shares of Asbury Automotive Group by 22.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 843 shares of the company’s stock valued at $47,000 after purchasing an additional 153 shares in the last quarter. FMR LLC lifted its position in shares of Asbury Automotive Group by 357.9% during the 4th quarter. FMR LLC now owns 641 shares of the company’s stock worth $72,000 after purchasing an additional 501 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Asbury Automotive Group during the first quarter worth $72,000. Finally, PNC Financial Services Group Inc. increased its holdings in Asbury Automotive Group by 36.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,318 shares of the company’s stock valued at $72,000 after buying an additional 349 shares during the last quarter.
Asbury Automotive Group Company Profile
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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