Asbury Automotive Group, Inc. (NYSE:ABG – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $203.78 and traded as high as $210.61. Asbury Automotive Group shares last traded at $209.5860, with a volume of 378,786 shares trading hands.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ABG. Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Thursday, October 22nd. Barclays lowered their target price on shares of Asbury Automotive Group from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. Morgan Stanley dropped their target price on shares of Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, October 6th. Finally, Seaport Research Partners raised shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, September 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average target price of $220.88.
Get Our Latest Analysis on ABG
Asbury Automotive Group Stock Up 6.0%
The company has a debt-to-equity ratio of 0.73, a current ratio of 0.91 and a quick ratio of 0.29. The business has a 50 day moving average of $188.43 and a 200 day moving average of $203.78. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.78.
Asbury Automotive Group (NYSE:ABG – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $6.16 earnings per share for the quarter, missing the consensus estimate of $6.42 by ($0.26). Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.85%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter in the prior year, the company posted $7.17 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts anticipate that Asbury Automotive Group, Inc. will post 24.92 EPS for the current year.
Hedge Funds Weigh In On Asbury Automotive Group
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Asbury Automotive Group in the second quarter worth about $593,499,000. Dimensional Fund Advisors LP raised its position in shares of Asbury Automotive Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock worth $225,977,000 after purchasing an additional 34,104 shares during the period. Cooke & Bieler LP acquired a new stake in shares of Asbury Automotive Group during the third quarter worth about $65,167,000. Madison Asset Management LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter valued at about $60,592,000. Finally, Lakewood Capital Management LP bought a new position in shares of Asbury Automotive Group during the 2nd quarter valued at about $35,919,000.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.
The company’s operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.
Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.
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