Asbury Automotive Group (NYSE:ABG) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Asbury Automotive Group, Inc. (NYSE:ABGGet Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $211.14 and traded as high as $216.60. Asbury Automotive Group shares last traded at $211.89, with a volume of 376,762 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Asbury Automotive Group from $202.00 to $221.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. Citigroup lowered their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Stephens reaffirmed an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Finally, Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average target price of $234.38.

Read Our Latest Report on Asbury Automotive Group

Asbury Automotive Group Price Performance

The company has a 50 day simple moving average of $196.23 and a 200-day simple moving average of $211.14. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.17 and a beta of 0.74. 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 earnings results on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business earned $6.82 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 25.7 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis acquired 157 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $182.31 per share, with a total value of $28,622.67. Following the completion of the acquisition, the director directly owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 34,104 shares during the period. State Street Corp boosted its stake in Asbury Automotive Group by 1.2% in the fourth quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after acquiring an additional 9,535 shares during the period. Norges Bank bought a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $77,963,000. Thrivent Financial for Lutherans grew its holdings in shares of Asbury Automotive Group by 106.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after purchasing an additional 152,669 shares during the last quarter. Finally, Magnolia Group LLC raised its position in shares of Asbury Automotive Group by 3.1% during the 1st quarter. Magnolia Group LLC now owns 288,004 shares of the company’s stock worth $56,279,000 after purchasing an additional 8,731 shares during the period.

Asbury Automotive Group Company Profile

(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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