Asbury Automotive Group, Inc. (NYSE:ABG) Receives $242.29 Consensus Price Target from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $241.5714.

ABG has been the subject of a number of recent research reports. Citigroup decreased their price objective 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 target price on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Stephens lowered their price target on 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. Finally, Bank of America started coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They set a “buy” rating on the stock.

Asbury Automotive Group Trading Down 0.2%

NYSE ABG opened at $211.07 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. Asbury Automotive Group has a 52 week low of $184.61 and a 52 week high of $274.50. The business has a 50 day moving average price of $206.66 and a 200-day moving average price of $226.80. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 1.06 and a beta of 0.80.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.70 by ($0.03). The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $7.26 EPS. As a group, equities analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director B. Christopher Disantis acquired 500 shares of Asbury Automotive Group stock in a transaction on Tuesday, March 10th. The stock was acquired at an average cost of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director owned 5,400 shares of the company’s stock, valued at approximately $1,092,420. This trade represents a 10.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors have recently modified their holdings of the business. Nations Financial Group Inc. IA ADV increased its position in shares of Asbury Automotive Group by 3.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 4,459 shares of the company’s stock valued at $871,000 after acquiring an additional 130 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Asbury Automotive Group by 163.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 321 shares of the company’s stock worth $75,000 after purchasing an additional 199 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Asbury Automotive Group in the 4th quarter valued at $54,000. River Road Asset Management LLC increased its position in shares of Asbury Automotive Group by 5.4% during the 4th quarter. River Road Asset Management LLC now owns 211,054 shares of the company’s stock valued at $49,076,000 after purchasing an additional 10,892 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Asbury Automotive Group by 3.5% during the 4th quarter. Invesco Ltd. now owns 157,006 shares of the company’s stock valued at $36,509,000 after purchasing an additional 5,360 shares during 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.