Asbury Automotive Group (NYSE:ABG) Price Target Raised to $335.00

Asbury Automotive Group (NYSE:ABG - Get Free Report) had its price target boosted by stock analysts at Bank of America from $325.00 to $335.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target points to a potential upside of 40.38% from the stock's previous close.

A number of other equities research analysts have also weighed in on ABG. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Citigroup started coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective on the stock. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $263.50.

Asbury Automotive Group Trading Up 2.6%

Shares of ABG stock traded up $6.14 during trading hours on Monday, reaching $238.63. The company's stock had a trading volume of 13,390 shares, compared to its average volume of 199,586. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a one year low of $201.68 and a one year high of $312.56. The stock has a market capitalization of $4.69 billion, a P/E ratio of 11.06 and a beta of 0.96. The firm's fifty day simple moving average is $227.12 and its 200 day simple moving average is $245.90.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The business's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $7.21 EPS. Equities research analysts expect that Asbury Automotive Group will post 26.28 EPS for the current year.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in ABG. Dimensional Fund Advisors LP increased its position in Asbury Automotive Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock valued at $269,322,000 after buying an additional 9,688 shares in the last quarter. Eminence Capital LP grew its stake in shares of Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock worth $191,453,000 after acquiring an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL increased its holdings in shares of Asbury Automotive Group by 0.7% during the first quarter. Timucuan Asset Management Inc. FL now owns 713,158 shares of the company's stock valued at $157,494,000 after acquiring an additional 5,284 shares in the last quarter. Madison Asset Management LLC increased its holdings in shares of Asbury Automotive Group by 10.1% during the first quarter. Madison Asset Management LLC now owns 373,320 shares of the company's stock valued at $82,444,000 after acquiring an additional 34,160 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in shares of Asbury Automotive Group in the 4th quarter worth about $82,426,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.