Asbury Automotive Group (NYSE:ABG) Stock Price Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• ABG fell below its 200-day moving average of $202.60, trading as low as $199.55; shares were last quoted at about $200.
• Analyst sentiment is mixed, with a consensus Hold rating and an average price target of $222.88; three analysts rate it Buy, five Hold, and two Sell.
• Recent quarterly results missed expectations: earnings were $6.16 per share versus $6.42 expected, while revenue of $4.41 billion was down 8.1% year over year.

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $202.60 and traded as low as $199.55. Asbury Automotive Group shares last traded at $200.0150, with a volume of 195,681 shares changing hands.

Analyst Upgrades and Downgrades

ABG has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Asbury Automotive Group in a research note on Thursday, October 22nd. Barclays dropped their price target on shares of Asbury Automotive Group from $230.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $190.00 to $185.00 and set an "underweight" rating for the company in a research note on Tuesday, October 6th. Bank of America reiterated a "buy" rating and issued a $232.00 price objective on shares of Asbury Automotive Group in a report on Wednesday, October 28th. Finally, Zacks Research lowered shares of Asbury Automotive Group from a "hold" rating to a "strong sell" rating in a research note on Friday, October 16th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $222.88.

Asbury Automotive Group Stock Down 3.8%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.29 and a current ratio of 0.91. The stock has a 50 day moving average price of $187.78 and a 200 day moving average price of $202.60. The company has a market cap of $3.59 billion, a P/E ratio of 7.98, a P/E/G ratio of 1.50 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share for the quarter, missing the consensus estimate of $6.42 by ($0.26). The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.51 billion. Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.85%. The company's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $7.17 EPS. Research analysts expect that Asbury Automotive Group, Inc. will post 24.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AlphaGrep UK Ltd lifted its position in shares of Asbury Automotive Group by 18.6% during the 3rd quarter. AlphaGrep UK Ltd now owns 1,337 shares of the company's stock valued at $230,000 after acquiring an additional 210 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Asbury Automotive Group by 8.8% during the 3rd quarter. First Trust Advisors LP now owns 36,529 shares of the company's stock worth $6,294,000 after acquiring an additional 2,964 shares in the last quarter. GW&K Investment Management LLC grew its holdings in shares of Asbury Automotive Group by 3.0% in the 3rd quarter. GW&K Investment Management LLC now owns 139,041 shares of the company's stock worth $23,958,000 after acquiring an additional 4,010 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Asbury Automotive Group in the 3rd quarter worth $1,461,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Asbury Automotive Group by 174.1% in the 3rd quarter. Global Retirement Partners LLC now owns 466 shares of the company's stock worth $80,000 after acquiring an additional 296 shares during the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group is a U.S. automotive retailer that operates franchised new- and used-vehicle dealerships. Its dealerships sell vehicles from a range of manufacturers and offer related services, including vehicle financing and insurance products, maintenance and repairs, parts sales, and collision repair. The company also operates Clicklane, a digital platform that lets customers research, purchase, finance, and arrange delivery of vehicles online. Asbury was founded in 1995 and has expanded through acquisitions, including its 2021 purchase of Larry H. Miller Dealerships.

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