Analysts Set Asbury Automotive Group, Inc. (NYSE:ABG) Price Target at $263.50

Shares of Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) have received a consensus recommendation of "Hold" from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $263.50.

A number of brokerages have issued reports on ABG. JPMorgan Chase & Co. cut their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Bank of America raised their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABG. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group during the 4th quarter valued at about $25,000. Versant Capital Management Inc raised its position in shares of Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after acquiring an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Asbury Automotive Group during the first quarter valued at about $49,000. eCIO Inc. purchased a new stake in Asbury Automotive Group during the first quarter valued at approximately $56,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after purchasing an additional 41 shares in the last quarter.

Asbury Automotive Group Price Performance

Shares of ABG traded up $6.64 during mid-day trading on Friday, reaching $246.08. The stock had a trading volume of 150,497 shares, compared to its average volume of 205,333. The business has a fifty day moving average of $228.55 and a 200 day moving average of $244.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.55 and a current ratio of 1.25. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.53 and a beta of 0.97. Asbury Automotive Group has a 12 month low of $201.68 and a 12 month high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.21 EPS. Equities analysts predict that Asbury Automotive Group will post 26.28 EPS for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.