Asbury Automotive Group (NYSE:ABG) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Asbury Automotive Group (NYSE:ABG - Free Report) from a hold rating to a buy rating in a research note issued to investors on Monday.

ABG has been the topic of several other reports. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Citigroup assumed coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Finally, Stephens upped their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $258.50.

Asbury Automotive Group Stock Up 0.6%

Shares of ABG traded up $1.44 during trading on Monday, reaching $235.12. The company's stock had a trading volume of 101,739 shares, compared to its average volume of 202,098. The company has a fifty day moving average of $225.75 and a two-hundred day moving average of $249.08. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 10.93 and a beta of 0.98. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

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

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Large investors have recently added to or reduced their stakes in the stock. GoodHaven Capital Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter worth $2,916,000. Magnolia Group LLC grew its stake in shares of Asbury Automotive Group by 2.1% in the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company's stock worth $36,241,000 after purchasing an additional 3,000 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Asbury Automotive Group by 52.3% in the fourth quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock worth $1,897,000 after purchasing an additional 2,680 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Asbury Automotive Group in the fourth quarter worth $221,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock worth $51,465,000 after purchasing an additional 3,273 shares in the last quarter.

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.