Asbury Automotive Group (NYSE:ABG) Issues Earnings Results, Beats Estimates By $0.51 EPS

Key Points

• Asbury Automotive Group beat quarterly earnings expectations, reporting $6.82 in EPS versus the $6.31 consensus estimate. Revenue increased 0.3% year over year, although EPS declined from $7.43 in the prior-year quarter.
• Shares opened at $227.30 and were up 0.9%, with the company valued at approximately $4.23 billion and trading at a price-to-earnings ratio of 8.05.
• Analyst sentiment remains cautious: two analysts rate the stock Buy, six Hold, and one Sell, producing a consensus Hold rating and an average price target of $233.12.

Asbury Automotive Group (NYSE:ABG - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $6.82 earnings per share for the quarter, beating the consensus estimate of $6.31 by $0.51, FiscalAI reports. Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $7.43 EPS.

Asbury Automotive Group Stock Up 0.9%

Asbury Automotive Group stock opened at $227.30 on Tuesday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.30 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. Asbury Automotive Group has a fifty-two week low of $172.01 and a fifty-two week high of $263.38. The firm has a fifty day moving average price of $201.83 and a two-hundred day moving average price of $209.52.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis purchased 157 shares of the stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $182.31 per share, with a total value of $28,622.67. Following the completion of the transaction, the director owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new stake in Asbury Automotive Group during the fourth quarter worth $25,000. Quarry LP lifted its holdings in shares of Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company's stock valued at $27,000 after acquiring an additional 83 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock valued at $31,000 after acquiring an additional 54 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $49,000 after purchasing an additional 81 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Asbury Automotive Group by 104.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company's stock worth $80,000 after purchasing an additional 172 shares during the last quarter.

Analyst Upgrades and Downgrades

ABG has been the topic of several analyst reports. Citigroup dropped their price target on shares of Asbury Automotive Group from $260.00 to $212.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating on the stock in a research report on Thursday, May 7th. Barclays cut their target price on Asbury Automotive Group from $235.00 to $225.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 15th. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded Asbury Automotive Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $233.12.

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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