Asbury Automotive Group (NYSE:ABG) Price Target Cut to $254.00 by Analysts at Stephens

Key Points

• Stephens cut its price target on Asbury Automotive from $277 to $254 but kept an "overweight" rating, implying roughly a 25.8% upside from the recent share price.
• The stock has a mixed analyst backdrop—two Buys, five Holds and one Sell—producing a MarketBeat consensus rating of "Hold" with a consensus target of $245.71.
• Asbury slightly missed the latest quarter (EPS $6.67 vs. $6.70 and revenue $4.68B vs. $4.93B), the shares traded around $201.92 (PE ~8.1), and a director purchased 500 shares at about $202, signaling insider buying.

Asbury Automotive Group (NYSE:ABG - Get Free Report) had its target price decreased by stock analysts at Stephens from $277.00 to $254.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Stephens' target price indicates a potential upside of 25.79% from the company's current price.

A number of other analysts have also weighed in on the stock. Bank of America started coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a "buy" rating for the company. JPMorgan Chase & Co. increased their price objective on Asbury Automotive Group from $235.00 to $240.00 and gave the company an "underweight" rating in a research report on Friday, March 20th. Barclays increased their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Weiss Ratings lowered Asbury Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $245.71.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG traded up $6.78 during trading on Wednesday, reaching $201.92. The stock had a trading volume of 56,315 shares, compared to its average volume of 215,888. Asbury Automotive Group has a 52 week low of $184.61 and a 52 week high of $274.50. The business's 50-day moving average price is $211.24 and its 200 day moving average price is $228.91. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The stock has a market capitalization of $3.90 billion, a PE ratio of 8.05 and a beta of 0.80.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted 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). Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $7.26 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director B. Christopher Disantis acquired 500 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $202.30 per share, for a total transaction of $101,150.00. Following the transaction, the director owned 5,400 shares of the company's stock, valued at approximately $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.59% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ABG. Los Angeles Capital Management LLC acquired a new stake in Asbury Automotive Group during the 4th quarter worth $25,000. Quarry LP grew its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company's stock worth $27,000 after acquiring an additional 83 shares during the period. Torren Management LLC acquired a new stake in Asbury Automotive Group during the 4th quarter worth $27,000. Bogart Wealth LLC grew its holdings 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 acquiring an additional 44 shares during the period. Finally, Salomon & Ludwin LLC grew its holdings in 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 period.

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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