Asbury Automotive Group, Inc. (NYSE:ABG) Given Consensus Rating of "Hold" by Analysts

Key Points

• Asbury Automotive Group, Inc. has a consensus rating of "Hold" from analysts, with one sell, four hold, and two buy recommendations among seven ratings firms.
• The average 12-month price target for Asbury Automotive Group shares is $249.00, with varying price targets from different analysts ranging from $215.00 to $300.00.
• Insider trading activity includes significant sales, with Director Maureen F. Morrison and SVP Jed Milstein having sold shares, resulting in a 12.08% and 9.13% decrease in their respective holdings.

Shares of Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) have received a consensus rating of "Hold" from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $249.00.

Several equities analysts recently commented on ABG shares. JPMorgan Chase & Co. reduced their target price on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a report on Tuesday, August 5th. Stephens raised shares of Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $225.00 to $277.00 in a report on Wednesday, August 13th. Bank of America cut their price target on shares of Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Cfra set a $225.00 price target on shares of Asbury Automotive Group in a report on Tuesday, July 29th. Finally, Citigroup reissued a "neutral" rating on shares of Asbury Automotive Group in a report on Thursday.

Insider Activity

In other Asbury Automotive Group news, Director Maureen F. Morrison sold 800 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $255.61, for a total value of $204,488.00. Following the sale, the director owned 5,824 shares of the company's stock, valued at $1,488,672.64. This trade represents a 12.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jed Milstein sold 1,132 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total transaction of $286,690.32. Following the completion of the sale, the senior vice president directly owned 11,267 shares in the company, valued at approximately $2,853,480.42. This trade represents a 9.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,957 shares of company stock worth $745,501 in the last quarter. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its position in shares of Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock worth $31,000 after purchasing an additional 54 shares during the period. Versant Capital Management Inc lifted 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 purchasing an additional 50 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Asbury Automotive Group by 64.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock worth $49,000 after purchasing an additional 81 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Asbury Automotive Group in the 1st quarter worth about $49,000. Finally, eCIO Inc. purchased a new stake in shares of Asbury Automotive Group in the 1st quarter worth about $56,000.

Asbury Automotive Group Price Performance

ABG stock opened at $238.77 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. Asbury Automotive Group has a 52 week low of $201.68 and a 52 week high of $312.56. The firm's fifty day moving average is $240.76 and its 200 day moving average is $235.40. The firm has a market cap of $4.69 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.53 and a beta of 0.89.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, beating the consensus estimate of $6.82 by $0.61. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the firm earned $6.40 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Asbury Automotive Group will post 26.28 earnings per share 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.

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