Asbury Automotive Group, Inc. (NYSE:ABG) Stock Has Average Price Target of $214.00 According to Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has been given a consensus rating of “Hold” by the nine brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $214.00.

Several equities research analysts have commented on ABG shares. UBS Group dropped their price target on shares of Asbury Automotive Group from $250.00 to $193.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Barclays reissued a “reduce” rating on shares of Asbury Automotive Group in a report on Tuesday, October 6th. JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 6th. Seaport Research Partners raised Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, September 8th. Finally, Morgan Stanley cut their target price on Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Monday, October 5th.

Asbury Automotive Group Stock Up 0.3%

ABG stock opened at $164.38 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. Asbury Automotive Group has a fifty-two week low of $162.03 and a fifty-two week high of $258.74. The firm’s 50-day simple moving average is $197.83 and its 200 day simple moving average is $201.00. The stock has a market cap of $2.95 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 0.65 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.49 billion. During the same period last year, the firm posted $7.43 EPS. Asbury Automotive Group’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Asbury Automotive Group will post 25.82 EPS for the current year.

Insider Activity at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the sale, the senior vice president directly owned 11,259 shares in the company, valued at $2,817,902.52. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently bought and sold shares of ABG. Global Retirement Partners LLC acquired a new stake in shares of Asbury Automotive Group in the 2nd quarter worth approximately $34,000. Allworth Financial LP bought a new stake in Asbury Automotive Group during the second quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group in the fourth quarter worth approximately $54,000. Rockefeller Capital Management L.P. lifted its position in Asbury Automotive Group by 163.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 321 shares of the company’s stock worth $75,000 after purchasing an additional 199 shares during the period. Finally, Versant Capital Management Inc lifted its position in Asbury Automotive Group by 237.8% in the second quarter. Versant Capital Management Inc now owns 375 shares of the company’s stock worth $75,000 after purchasing an additional 264 shares during the period.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised dealerships representing a range of domestic and international vehicle manufacturers. The company sells new and used cars, trucks and sport utility vehicles, and provides related financing and insurance products.

In addition to vehicle sales, Asbury’s dealerships offer automotive maintenance and repair, replacement parts, collision repair and other after-sales services. The company also operates Clicklane, a digital retail platform designed to support online vehicle purchasing, financing and trade-ins.

Headquartered in Duluth, Georgia, Asbury serves customers through dealership locations across multiple U.S.