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

Key Points

• Analysts rate Asbury Automotive Group “Hold” overall: Of nine covering firms, six recommend holding, two recommend buying and one recommends selling. The average 12-month price target is $246.71.
• Quarterly earnings beat expectations, but revenue fell short: Asbury reported $6.82 in EPS versus the $6.31 consensus estimate, while revenue was $4.38 billion compared with expectations of $4.49 billion. Revenue increased 0.3% year over year.
• The stock opened at $213.65, below the analyst average target: ABG has traded between $172.01 and $263.38 over the past year, with a market capitalization of about $3.84 billion.

Shares of Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $246.7143.

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Stephens restated an "overweight" rating and set a $242.00 target price on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Barclays upped their price target on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Finally, UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a research report on Wednesday, July 29th.

Insider Activity

In related news, SVP Jed Milstein sold 948 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Asbury Automotive Group

A number of institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC lifted its position in shares of Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company's stock valued at $30,000 after buying an additional 44 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Asbury Automotive Group by 2.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,937 shares of the company's stock worth $450,000 after acquiring an additional 50 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Asbury Automotive Group by 1.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,130 shares of the company's stock worth $731,000 after acquiring an additional 54 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock worth $31,000 after acquiring an additional 54 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Asbury Automotive Group by 76.0% during the 4th quarter. Salomon & Ludwin LLC now owns 132 shares of the company's stock worth $32,000 after acquiring an additional 57 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $213.65 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group has a twelve month low of $172.01 and a twelve month high of $263.38. The firm's 50 day moving average price is $211.84 and its two-hundred day moving average price is $206.33. The firm has a market cap of $3.84 billion, a P/E ratio of 7.99, a PEG ratio of 0.78 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, beating analysts' consensus estimates of $6.31 by $0.51. The company had revenue of $4.38 billion for 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 quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $7.43 earnings per share. On average, analysts forecast that Asbury Automotive Group will post 26.43 EPS for the current fiscal year.

About Asbury Automotive Group

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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