Asbury Automotive Group, Inc. (NYSE:ABG) Given Consensus Rating of “Hold” by Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has been given a consensus rating of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $237.8333.

ABG has been the topic of several recent analyst reports. Barclays increased their target price on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Citigroup increased their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley increased their target price on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research report on Friday, July 24th.

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 stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the transaction, the senior vice president directly owned 11,259 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several large investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of Asbury Automotive Group by 2.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,937 shares of the company’s stock worth $450,000 after buying an additional 50 shares during the last quarter. ProShare Advisors LLC raised its holdings in Asbury Automotive Group by 2.0% during the 4th quarter. ProShare Advisors LLC now owns 3,777 shares of the company’s stock worth $878,000 after purchasing an additional 74 shares during the last quarter. Abel Hall LLC lifted its stake in Asbury Automotive Group by 9.0% in the first quarter. Abel Hall LLC now owns 1,222 shares of the company’s stock valued at $239,000 after buying an additional 101 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of Asbury Automotive Group by 3.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 2,820 shares of the company’s stock worth $656,000 after purchasing an additional 105 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Asbury Automotive Group by 263.3% in the second quarter. Allworth Financial LP now owns 178 shares of the company’s stock valued at $36,000 after buying an additional 129 shares during the period.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $182.99 on Monday. 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 52 week low of $172.01 and a 52 week high of $258.74. The firm has a market capitalization of $3.28 billion, a PE ratio of 6.84, a P/E/G ratio of 0.72 and a beta of 0.71. The company has a 50 day moving average price of $214.74 and a 200-day moving average price of $203.73.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $7.43 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Asbury Automotive Group will post 26.44 earnings per share for the current year.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.