Asbury Automotive Group (NYSE:ABG) Given New $235.00 Price Target at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target lowered by JPMorgan Chase & Co. from $240.00 to $235.00 in a research note published on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other equities analysts have also recently commented on ABG. Stephens decreased their price target on shares of Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Citigroup lowered their price target on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Barclays raised their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, Bank of America started coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $241.57.

Asbury Automotive Group Stock Up 3.4%

Shares of ABG opened at $211.07 on Friday. The company’s 50-day moving average price is $206.66 and its 200 day moving average price is $227.09. The firm has a market cap of $4.07 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.02 and a beta of 0.80. Asbury Automotive Group has a 12-month low of $184.61 and a 12-month high of $274.50. The company has a current ratio of 0.95, a quick ratio of 0.35 and a debt-to-equity ratio of 0.79.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the previous year, the business posted $7.26 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Insider Transactions at Asbury Automotive Group

In related news, Director B. Christopher Disantis bought 500 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average cost of $202.30 per share, with a total value of $101,150.00. Following the completion of the acquisition, the director owned 5,400 shares in the company, valued at approximately $1,092,420. This represents a 10.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABG. Norges Bank purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth approximately $77,963,000. Thrivent Financial for Lutherans increased its position in Asbury Automotive Group by 106.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock worth $68,842,000 after purchasing an additional 152,669 shares in the last quarter. Woodline Partners LP purchased a new stake in Asbury Automotive Group during the 3rd quarter worth about $32,684,000. American Century Companies Inc. raised its stake in Asbury Automotive Group by 261.7% in the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock valued at $39,025,000 after purchasing an additional 115,504 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after purchasing an additional 91,767 shares in the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.