Asbury Automotive Group, Inc. (NYSE:ABG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been given an average recommendation of “Hold” by the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $254.00.

Several research analysts have recently commented on the stock. Cfra set a $225.00 price target on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $225.00 to $215.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 5th. Bank of America increased their price target on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Morgan Stanley increased their price target on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Finally, Stephens upgraded shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $225.00 to $277.00 in a research note on Wednesday, August 13th.

Asbury Automotive Group Stock Down 1.5%

Asbury Automotive Group stock opened at $253.60 on Thursday. The firm has a market cap of $4.99 billion, a PE ratio of 9.26, a P/E/G ratio of 1.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. The firm’s 50 day moving average price is $243.36 and its two-hundred day moving average price is $236.78. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, beating the consensus estimate of $6.82 by $0.61. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.40 EPS. On average, research analysts predict that Asbury Automotive Group will post 26.28 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director Juanita T. James sold 625 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total transaction of $152,562.50. Following the transaction, the director owned 6,855 shares in the company, valued at $1,673,305.50. This represents a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Dean Calloway sold 400 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the transaction, the senior vice president owned 5,295 shares in the company, valued at $1,347,048. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,957 shares of company stock worth $745,501. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ABG. Osaic Holdings Inc. grew its stake in Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after buying an additional 54 shares during the last quarter. Versant Capital Management Inc grew its position in Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group in the 1st quarter worth $49,000. Northwestern Mutual Wealth Management Co. grew its position in Asbury Automotive Group by 64.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock worth $49,000 after purchasing an additional 81 shares during the last quarter. Finally, eCIO Inc. acquired a new stake in Asbury Automotive Group in the 1st quarter worth $56,000.

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.