Asbury Automotive Group (NYSE:ABG) Hits New 12-Month Low - Time to Sell?

Key Points

• 52-week low: Asbury Automotive shares fell as low as $197.51 and last traded at $201.46, trading well below its 50-day ($233.66) and 200-day ($237.92) moving averages.
• Analyst sentiment is mixed with a consensus rating of Hold and an average price target of $247.57, while individual firms range from Buy to Reduce and two analysts rate the stock a Sell.
• Recent results disappointed—Q4 EPS $6.67 (vs. $6.70 est.) and revenue $4.68B (vs. $4.93B est.)—and the company shows tight liquidity (current ratio 0.95, quick ratio 0.35) while trading at a P/E of 8.16.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $197.51 and last traded at $201.46, with a volume of 26319 shares changing hands. The stock had previously closed at $207.63.

Analyst Upgrades and Downgrades

ABG has been the topic of several recent research reports. Bank of America assumed coverage on Asbury Automotive Group in a report on Wednesday. They set a "buy" rating on the stock. Zacks Research downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 11th. Morgan Stanley set a $230.00 price target on Asbury Automotive Group in a report on Monday, December 8th. Weiss Ratings downgraded Asbury Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 23rd. Finally, Barclays decreased their target price on Asbury Automotive Group from $250.00 to $230.00 and set a "reduce" rating on the stock in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $247.57.

Asbury Automotive Group Price Performance

The company has a 50 day moving average price of $233.66 and a 200 day moving average price of $237.92. The company has a current ratio of 0.95, a quick ratio of 0.35 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.16 and a beta of 0.81.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.70 by ($0.03). The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.26 earnings per share. As a group, equities research analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Institutional Trading of Asbury Automotive Group

A number of large investors have recently made changes to their positions in ABG. Los Angeles Capital Management LLC bought a new position in Asbury Automotive Group during the fourth quarter worth about $25,000. Quarry LP raised its position in shares of Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company's stock worth $27,000 after purchasing an additional 83 shares during the period. Torren Management LLC bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $27,000. Bogart Wealth LLC increased its stake in Asbury Automotive Group by 52.4% during the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company's stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Asbury Automotive Group by 76.0% in the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company's stock valued at $32,000 after buying an additional 57 shares in the last quarter.

Asbury Automotive Group Company Profile

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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