Asbury Automotive Group (NYSE:ABG) Sets New 1-Year Low - Time to Sell?

Key Points

• Asbury Automotive Group shares hit a new 52-week low, falling to $171.47 and trading well below their 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating, with an average price target of $237.83; ratings include two Buys, six Holds and one Sell.
• The company’s latest quarter beat EPS expectations at $6.82 versus $6.31, but revenue of $4.38 billion fell short of estimates and year-over-year EPS declined from $7.43.

Shares of Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $171.47 and last traded at $171.41, with a volume of 35109 shares trading hands. The stock had previously closed at $173.95.

Analyst Upgrades and Downgrades

ABG has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Morgan Stanley lifted their price objective on Asbury Automotive Group from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Barclays boosted their target price on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. UBS Group set a $250.00 price target on Asbury Automotive Group in a report on Wednesday, July 29th. Finally, Stephens reiterated an "overweight" rating and set a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and an average price target of $237.83.

Asbury Automotive Group Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29. The company has a 50 day simple moving average of $209.86 and a 200-day simple moving average of $202.50. The firm has a market cap of $3.08 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.69 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts' consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the business posted $7.43 EPS. The business's quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Asbury Automotive Group, Inc. will post 26.44 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Jed Milstein sold 948 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the transaction, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. This trade represents a 7.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

Several large investors have recently added to or reduced their stakes in ABG. Man Group plc bought a new position in shares of Asbury Automotive Group during the second quarter valued at $3,208,000. BlackRock Inc. bought a new position in Asbury Automotive Group in the 2nd quarter worth $593,499,000. Legal & General Group Plc bought a new stake in Asbury Automotive Group during the second quarter valued at about $8,884,000. Fieldview Capital Management LLC bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $3,336,000. Finally, Fifth Third Bancorp increased its stake in Asbury Automotive Group by 13,382.1% in the 1st quarter. Fifth Third Bancorp now owns 21,032 shares of the company's stock worth $4,110,000 after acquiring an additional 20,876 shares during the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.

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