Asbury Automotive Group (NYSE:ABG) SVP Jed Milstein Sells 948 Shares

Key Points

• Insider sale: Asbury Automotive SVP Jed Milstein sold 948 shares at an average price of $250.28, totaling $237,265.44. His remaining stake fell 7.77% to 11,259 shares.
• Quarterly results: The company reported adjusted earnings of $6.82 per share, beating estimates of $6.31, while revenue of $4.38 billion was below the $4.49 billion consensus estimate. Revenue increased 0.3% year over year.
• Market outlook: ABG shares recently traded at $231.40, down 0.7%, while analysts maintained an overall “Hold” rating with a consensus price target of $249.57.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) SVP Jed Milstein sold 948 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the transaction, the senior vice president owned 11,259 shares in the company, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Asbury Automotive Group Stock Down 0.7%

NYSE:ABG traded down $1.74 during mid-day trading on Friday, hitting $231.40. 225,900 shares of the company's stock traded hands, compared to its average volume of 250,112. The company has a fifty day moving average of $205.35 and a 200 day moving average of $209.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. Asbury Automotive Group, Inc. has a twelve month low of $172.01 and a twelve month high of $263.38. The company has a market capitalization of $4.31 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.96 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping the consensus estimate of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the company earned $7.43 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Asbury Automotive Group, Inc. will post 26.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABG. UBS Group set a $250.00 target price on shares of Asbury Automotive Group in a research note on Wednesday. Barclays lifted their price objective on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup boosted their price objective on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a report on Friday. Stephens reissued an "overweight" rating and issued a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $249.57.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Asbury Automotive Group by 1,570.2% during the fourth quarter. SG Americas Securities LLC now owns 9,086 shares of the company's stock worth $2,113,000 after purchasing an additional 8,542 shares during the last quarter. Comerica Bank boosted its holdings in Asbury Automotive Group by 103.1% in the fourth quarter. Comerica Bank now owns 18,880 shares of the company's stock valued at $4,390,000 after purchasing an additional 9,586 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $5,639,000. Thrivent Financial for Lutherans raised its stake in shares of Asbury Automotive Group by 106.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company's stock valued at $68,842,000 after buying an additional 152,669 shares during the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $3,336,000.

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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