Asbury Automotive Group, Inc. (NYSE:ABG) Receives $237.75 Average Target Price from Brokerages

by · The Cerbat Gem

Shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Free Report) have been given an average recommendation of “Hold” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $251.20.

A number of research analysts have commented on the company. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Stephens initiated coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company. Finally, Bank of America dropped their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th.

View Our Latest Report on Asbury Automotive Group

Asbury Automotive Group Stock Performance

Shares of ABG opened at $234.65 on Monday. The company has a market capitalization of $4.73 billion, a PE ratio of 8.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. The company’s 50 day moving average price is $230.04 and its 200 day moving average price is $231.19. Asbury Automotive Group has a 52 week low of $178.40 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $8.95 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Research analysts expect that Asbury Automotive Group will post 26.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds have recently modified their holdings of ABG. BNP Paribas Financial Markets raised its stake in Asbury Automotive Group by 26.4% during the 1st quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $4,768,000 after purchasing an additional 4,224 shares during the last quarter. Foundry Partners LLC raised its position in shares of Asbury Automotive Group by 11.7% during the first quarter. Foundry Partners LLC now owns 21,040 shares of the company’s stock valued at $4,961,000 after buying an additional 2,198 shares during the last quarter. Natixis bought a new stake in shares of Asbury Automotive Group in the first quarter valued at about $896,000. Boston Partners acquired a new stake in Asbury Automotive Group during the first quarter worth about $878,000. Finally, Tidal Investments LLC bought a new position in Asbury Automotive Group during the first quarter valued at about $537,000.

About Asbury Automotive Group

(Get Free Report

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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