Asbury Automotive Group (NYSE:ABG) Director Maureen Morrison Sells 800 Shares

Key Points

• Maureen Morrison, a director at Asbury Automotive Group, sold 800 shares of the company at an average price of $255.61, which decreased her ownership by 12.08%.
• Asbury Automotive reported $7.43 EPS for the last quarter, beating expectations of $6.82, with revenue of $4.37 billion, though slightly below analyst estimates.
• Analysts have varying ratings on Asbury's stock, with two firms issuing a "Buy" rating while an average price target sits at $254.00.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) Director Maureen Morrison sold 800 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $255.61, for a total value of $204,488.00. Following the completion of the sale, the director directly owned 5,824 shares of the company's stock, valued at approximately $1,488,672.64. This represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Asbury Automotive Group Stock Up 0.8%

ABG stock traded up $1.93 during mid-day trading on Tuesday, hitting $253.47. The stock had a trading volume of 146,459 shares, compared to its average volume of 200,987. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.66 and a beta of 0.89. The company has a fifty day moving average of $242.01 and a 200 day moving average of $238.08. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, beating analysts' consensus estimates of $6.82 by $0.61. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.40 EPS. On average, equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Institutional Trading of Asbury Automotive Group

Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in Asbury Automotive Group by 9.1% in the fourth quarter. Northern Trust Corp now owns 239,007 shares of the company's stock worth $58,086,000 after purchasing an additional 19,923 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at $1,951,000. Comerica Bank lifted its stake in shares of Asbury Automotive Group by 22.2% during the fourth quarter. Comerica Bank now owns 9,103 shares of the company's stock valued at $2,212,000 after acquiring an additional 1,656 shares during the period. Algert Global LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at $909,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Asbury Automotive Group by 51.4% during the fourth quarter. BNP Paribas Financial Markets now owns 20,490 shares of the company's stock valued at $4,980,000 after acquiring an additional 6,956 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABG. Stephens raised Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $225.00 to $277.00 in a report on Wednesday, August 13th. Morgan Stanley raised their target price on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Bank of America raised their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $254.00.

Asbury Automotive Group Company Profile

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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