Asbury Automotive Group (NYSE:ABG) Stock Price Down 6.4% - Time to Sell?

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) shares traded down 6.4% on Thursday . The company traded as low as $233.18 and last traded at $232.16. 43,958 shares changed hands during trading, a decline of 78% from the average session volume of 196,323 shares. The stock had previously closed at $248.11.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $235.00 to $225.00 in a report on Thursday. Bank of America upped their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $259.33.

Asbury Automotive Group Price Performance

The firm's fifty day simple moving average is $239.57 and its 200 day simple moving average is $245.19. The firm has a market cap of $4.52 billion, a P/E ratio of 10.95, a P/E/G ratio of 1.60 and a beta of 0.96. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.55 and a current ratio of 1.25.

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). Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the business posted $7.21 EPS. The firm's revenue was down 1.3% on a year-over-year basis. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Asbury Automotive Group in the 1st quarter valued at about $262,000. New York State Teachers Retirement System raised its position in Asbury Automotive Group by 13.7% in the 1st quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock worth $3,279,000 after purchasing an additional 1,787 shares during the period. GAMMA Investing LLC raised its position in Asbury Automotive Group by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares during the period. GoodHaven Capital Management LLC purchased a new stake in Asbury Automotive Group in the 4th quarter worth about $2,916,000. Finally, SG Americas Securities LLC purchased a new stake in Asbury Automotive Group in the 1st quarter worth about $1,111,000.

About Asbury Automotive Group

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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