Shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Free Report) have been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $246.7143.
ABG has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Morgan Stanley lifted their price target on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Stephens reissued an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a report on Tuesday, June 2nd.
Read Our Latest Analysis on ABG
Asbury Automotive Group Price Performance
Asbury Automotive Group (NYSE:ABG – Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.31 by $0.51. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.49 billion. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $7.43 EPS. On average, equities analysts predict that Asbury Automotive Group will post 26.43 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Jed Milstein sold 948 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the sale, the senior vice president owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.75% of the company’s stock.
Institutional Investors Weigh In On Asbury Automotive Group
Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $593,499,000. Dimensional Fund Advisors LP lifted its holdings in shares of Asbury Automotive Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after purchasing an additional 34,104 shares in the last quarter. State Street Corp grew its position in shares of Asbury Automotive Group by 1.2% in the 4th quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after purchasing an additional 9,535 shares during the period. Norges Bank acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at approximately $77,963,000. Finally, Madison Asset Management LLC bought a new stake in Asbury Automotive Group during the 2nd quarter worth approximately $60,592,000.
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.
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