JPMorgan Chase & Co. Lowers Asbury Automotive Group (NYSE:ABG) Price Target to $250.00

Asbury Automotive Group (NYSE:ABG) had its price target cut by investment analysts at JPMorgan Chase & Co. from $290.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 8.45% from the stock’s previous close.

Several other brokerages also recently commented on ABG. Stephens lifted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $263.00.

Asbury Automotive Group Price Performance

Shares of ABG stock traded down $7.10 during trading hours on Thursday, reaching $230.53. The company’s stock had a trading volume of 68,248 shares, compared to its average volume of 179,962. 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 has a fifty-two week low of $206.62 and a fifty-two week high of $312.56. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 10.72 and a beta of 1.22. The firm’s 50 day simple moving average is $267.59 and its 200-day simple moving average is $250.60.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in Asbury Automotive Group in the fourth quarter worth $25,000. CIBC Private Wealth Group LLC boosted its holdings in Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after buying an additional 351 shares during the period. Headlands Technologies LLC grew its holdings in shares of Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after acquiring an additional 443 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock valued at $153,000 after buying an additional 561 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.