Asbury Automotive Group, Inc. (NYSE:ABG) Receives Average Rating of “Hold” from Analysts

Asbury Automotive Group, Inc. (NYSE:ABG) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $258.50.

ABG has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Stephens lifted their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup started coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price target for the company. Finally, Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th.

Asbury Automotive Group Trading Up 3.8 %

NYSE:ABG opened at $226.22 on Friday. The firm’s 50 day moving average is $228.12 and its 200 day moving average is $248.77. Asbury Automotive Group has a 12 month low of $201.68 and a 12 month high of $312.56. The stock has a market capitalization of $4.45 billion, a PE ratio of 10.52 and a beta of 0.98. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $7.21 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Sell-side analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Insider Buying and Selling

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of ABG. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asbury Automotive Group during the 4th quarter valued at $25,000. Versant Capital Management Inc raised its position in Asbury Automotive Group by 43.9% during the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Asbury Automotive Group by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock valued at $129,000 after purchasing an additional 165 shares during the last quarter.

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.