StockNews.com upgraded shares of Asbury Automotive Group (NYSE:ABG - Free Report) from a hold rating to a buy rating in a research report released on Monday.
ABG has been the subject of a number of other research reports. Citigroup assumed coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Stephens upped their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $258.50.
Read Our Latest Stock Analysis on ABG
Asbury Automotive Group Stock Performance
ABG stock traded up $1.44 during trading on Monday, reaching $235.12. 101,739 shares of the stock were exchanged, compared to its average volume of 202,052. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.62 billion, a P/E ratio of 10.93 and a beta of 0.98. The stock has a 50 day simple moving average of $225.99 and a 200-day simple moving average of $249.05.
Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing the consensus estimate of $6.84 by ($0.02). The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. Asbury Automotive Group's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $7.21 EPS. As a group, sell-side analysts anticipate that Asbury Automotive Group will post 26.28 earnings per share for the current year.
Insider Activity
In related news, COO Daniel Clara sold 1,217 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at $1,111,510.08. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.59% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Asbury Automotive Group
Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its holdings in shares of Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after buying an additional 41 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Asbury Automotive Group by 2.0% in the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock worth $608,000 after acquiring an additional 48 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Asbury Automotive Group by 43.9% during the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Asbury Automotive Group by 1.3% during the first quarter. Nations Financial Group Inc. IA ADV now owns 4,074 shares of the company's stock valued at $900,000 after purchasing an additional 51 shares during the last quarter. Finally, Choreo LLC increased its holdings in shares of Asbury Automotive Group by 1.7% in the first quarter. Choreo LLC now owns 3,094 shares of the company's stock valued at $683,000 after purchasing an additional 53 shares in the last quarter.
About Asbury Automotive Group
(
Get Free Report)
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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