Asbury Automotive Group, Inc. (NYSE:ABG) Receives $238.00 Average PT from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABGGet Free Report) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $238.00.

Several brokerages recently issued reports on ABG. Citigroup cut their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Stephens cut their target price on Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings cut Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a research report on Thursday, May 7th.

Get Our Latest Stock Analysis on ABG

Insider Activity

In related news, Director B. Christopher Disantis bought 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $202.30 per share, with a total value of $101,150.00. Following the completion of the transaction, the director directly owned 5,400 shares in the company, valued at approximately $1,092,420. This represents a 10.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ABG. Mitsubishi UFJ Trust & Banking Corp boosted its position in Asbury Automotive Group by 631.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,036 shares of the company’s stock worth $1,720,000 after purchasing an additional 6,074 shares during the last quarter. SG Americas Securities LLC boosted its position in Asbury Automotive Group by 1,570.2% in the fourth quarter. SG Americas Securities LLC now owns 9,086 shares of the company’s stock worth $2,113,000 after purchasing an additional 8,542 shares during the last quarter. American Century Companies Inc. boosted its position in Asbury Automotive Group by 261.7% in the third quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares during the last quarter. Magnolia Group LLC boosted its position in Asbury Automotive Group by 18.7% in the third quarter. Magnolia Group LLC now owns 282,623 shares of the company’s stock worth $69,087,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Asbury Automotive Group by 14.4% in the third quarter. Public Sector Pension Investment Board now owns 76,656 shares of the company’s stock worth $18,739,000 after purchasing an additional 9,632 shares during the last quarter.

Asbury Automotive Group Trading Down 1.7%

NYSE ABG opened at $176.17 on Tuesday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 6.24, a P/E/G ratio of 0.99 and a beta of 0.78. Asbury Automotive Group has a 52 week low of $175.20 and a 52 week high of $274.50. The business has a 50 day moving average price of $197.54 and a 200-day moving average price of $220.59. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABGGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing the consensus estimate of $5.62 by ($0.25). The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.82 EPS. As a group, equities analysts expect that Asbury Automotive Group will post 25.74 earnings per share for the current fiscal year.

About Asbury Automotive Group

(Get Free Report)

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.

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Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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