Asbury Automotive Group (NYSE:ABG) Announces Earnings Results, Misses Expectations By $0.26 EPS

Asbury Automotive Group (NYSE:ABG) announced its earnings results on Tuesday. The company reported $6.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.42 by ($0.26), FiscalAI reports. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.

Asbury Automotive Group Trading Up 0.2%

NYSE ABG opened at $173.08 on Tuesday. The company has a market cap of $3.11 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.97 and a beta of 0.78. Asbury Automotive Group has a 12 month low of $160.30 and a 12 month high of $258.74. 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 moving average of $190.06 and a 200-day moving average of $205.47.

Analyst Ratings Changes

Several research analysts have weighed in on ABG shares. Seaport Research Partners upgraded Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, September 8th. Morgan Stanley reduced their price target 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. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, October 6th. Citigroup lifted their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, UBS Group lowered their price objective on Asbury Automotive Group from $250.00 to $193.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $214.00.

Insider Activity

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

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.

The company’s operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.

Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.