Asbury Automotive Group (NYSE:ABG) Price Target Cut to $230.00

Asbury Automotive Group (NYSE:ABG - Get Free Report) had its price target cut by analysts at JPMorgan Chase & Co. from $235.00 to $230.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 10.34% from the stock's current price.

Separately, Craig Hallum cut Asbury Automotive Group from a "buy" rating to a "hold" rating and set a $230.00 target price for the company. in a research report on Thursday, February 8th.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded down $2.19 during midday trading on Thursday, reaching $208.45. 208,976 shares of the company traded hands, compared to its average volume of 167,709. The company has a quick ratio of 0.45, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. Asbury Automotive Group has a 12 month low of $178.40 and a 12 month high of $256.39. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 7.65 and a beta of 1.19. The firm's fifty day moving average price is $217.08 and its two-hundred day moving average price is $213.20.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported $7.21 EPS for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The business had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.26 billion. During the same quarter in the previous year, the firm earned $8.37 earnings per share. Asbury Automotive Group's quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts expect that Asbury Automotive Group will post 30.87 earnings per share for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the transaction, the senior vice president now owns 8,300 shares of the company's stock, valued at approximately $1,734,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABG. Blue Trust Inc. raised its position in shares of Asbury Automotive Group by 31.2% in the 4th quarter. Blue Trust Inc. now owns 244 shares of the company's stock worth $56,000 after acquiring an additional 58 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Asbury Automotive Group by 5.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,434 shares of the company's stock worth $330,000 after buying an additional 68 shares during the last quarter. CWM LLC grew its stake in shares of Asbury Automotive Group by 94.0% in the 3rd quarter. CWM LLC now owns 161 shares of the company's stock worth $37,000 after buying an additional 78 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Asbury Automotive Group by 7.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 1,260 shares of the company's stock worth $290,000 after buying an additional 86 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Asbury Automotive Group by 2.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,158 shares of the company's stock worth $957,000 after buying an additional 108 shares during 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.