Asbury Automotive Group (NYSE:ABG) Price Target Lowered to $225.00 at Barclays

Asbury Automotive Group (NYSE:ABG) had its price objective cut by Barclays from $235.00 to $225.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 5.69% from the company’s current price.

A number of other analysts have also recently commented on the company. UBS Group lifted their price target on Asbury Automotive Group from $202.00 to $221.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley set a $220.00 price objective on Asbury Automotive Group in a research note on Thursday, May 7th. Citigroup decreased their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Finally, Stephens reiterated an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $233.12.

Asbury Automotive Group Trading Up 1.0%

NYSE ABG opened at $212.90 on Wednesday. The company has a fifty day simple moving average of $196.65 and a two-hundred day simple moving average of $210.57. The stock has a market cap of $3.96 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.24 and a beta of 0.74. Asbury Automotive Group has a 12-month low of $172.01 and a 12-month high of $265.41. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the firm earned $6.82 earnings per share. Asbury Automotive Group’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Asbury Automotive Group will post 25.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis acquired 157 shares of Asbury Automotive Group stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the purchase, the director owned 6,400 shares of the company’s stock, valued at approximately $1,166,784. This represents a 2.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in Asbury Automotive Group in the second quarter valued at approximately $1,965,000. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 107.0% during the 2nd quarter. GAMMA Investing LLC now owns 534 shares of the company’s stock worth $107,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc increased its holdings in shares of Asbury Automotive Group by 237.8% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the company’s stock valued at $75,000 after purchasing an additional 264 shares in the last quarter. Argent Capital Management LLC increased its holdings in shares of Asbury Automotive Group by 54.6% during the 1st quarter. Argent Capital Management LLC now owns 6,301 shares of the company’s stock valued at $1,231,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in shares of Asbury Automotive Group by 10.2% in the 1st quarter. Edgestream Partners L.P. now owns 53,267 shares of the company’s stock valued at $10,409,000 after purchasing an additional 4,936 shares during the period.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.