Asbury Automotive Group, Inc. (NYSE:ABG) Stock Has Consensus Price Target of $220.88 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on Asbury Automotive Group, with five hold, three buy, and two sell ratings. The average 12-month price target is $220.88, though individual targets range from $185 to $300.
• Asbury reported quarterly EPS of $6.16, below the $6.42 analyst estimate, while revenue of $4.41 billion also missed expectations and declined 8.1% year over year.
• The stock opened at $206.76, up 4.4%, with a market capitalization of approximately $3.71 billion; several institutional investors recently increased their positions.

Shares of Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) have been given an average recommendation of "Hold" by the ten analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $220.88.

ABG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $190.00 to $185.00 and set an "underweight" rating on the stock in a report on Tuesday, October 6th. Zacks Research downgraded shares of Asbury Automotive Group from a "hold" rating to a "strong sell" rating in a research note on Friday, October 16th. Seaport Research Partners raised Asbury Automotive Group from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, September 8th. Citigroup increased their target price on Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Craig Hallum upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating and set a $250.00 price target on the stock in a research note on Tuesday, October 27th.

Asbury Automotive Group Stock Up 4.4%

Shares of NYSE:ABG opened at $206.76 on Tuesday. The firm's 50 day moving average price is $188.80 and its 200 day moving average price is $204.22. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.78. Asbury Automotive Group has a fifty-two week low of $160.30 and a fifty-two week high of $258.74. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.77.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.42 by ($0.26). Asbury Automotive Group had a return on equity of 11.94% and a net margin of 2.66%. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.51 billion. During the same quarter in the prior year, the firm earned $7.17 EPS. The firm's revenue was down 8.1% compared to the same quarter last year. As a group, equities research analysts predict that Asbury Automotive Group will post 24.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cim Investment Management Inc. grew its stake in Asbury Automotive Group by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 1,167 shares of the company's stock worth $235,000 after buying an additional 79 shares during the last quarter. Abel Hall LLC increased its position in Asbury Automotive Group by 9.0% during the first quarter. Abel Hall LLC now owns 1,222 shares of the company's stock worth $239,000 after buying an additional 101 shares during the period. GAMMA Investing LLC lifted its stake in Asbury Automotive Group by 20.2% in the third quarter. GAMMA Investing LLC now owns 642 shares of the company's stock valued at $111,000 after buying an additional 108 shares during the last quarter. Allworth Financial LP lifted its stake in Asbury Automotive Group by 263.3% in the second quarter. Allworth Financial LP now owns 178 shares of the company's stock valued at $36,000 after buying an additional 129 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Asbury Automotive Group by 42.4% in the third quarter. Versant Capital Management Inc now owns 534 shares of the company's stock valued at $92,000 after buying an additional 159 shares during the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.

The company's operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.

Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.

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