Asbury Automotive Group (NYSE:ABG) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Asbury Automotive Group (NYSE:ABG) from a sell rating to a hold rating in a research note issued to investors on Thursday.

ABG has been the subject of a number of other reports. JPMorgan Chase & Co. increased their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Craig Hallum upped their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday. Stephens initiated coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. Bank of America reduced their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $257.20.

Asbury Automotive Group Stock Down 2.2 %

ABG opened at $228.00 on Thursday. The company has a market capitalization of $4.56 billion, a P/E ratio of 12.90 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. The firm’s fifty day moving average price is $229.84 and its two-hundred day moving average price is $231.41. Asbury Automotive Group has a fifty-two week low of $186.29 and a fifty-two week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $8.12 earnings per share. Asbury Automotive Group’s revenue was up 15.6% on a year-over-year basis. On average, analysts anticipate that Asbury Automotive Group will post 26.01 EPS for the current year.

Insider Transactions at Asbury Automotive Group

In related news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in Asbury Automotive Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after purchasing an additional 51 shares during the period. Oak Associates Ltd. OH lifted its holdings in Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after buying an additional 51 shares during the period. Janus Henderson Group PLC boosted its stake in Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after acquiring an additional 60 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Asbury Automotive Group by 0.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock worth $5,819,000 after acquiring an additional 62 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in shares of Asbury Automotive Group by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after acquiring an additional 66 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.