Asbury Automotive Group (NYSE:ABG) Releases Earnings Results

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%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the business earned $7.17 EPS.

Asbury Automotive Group Price Performance

ABG stock opened at $174.36 on Tuesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 6.65, a PEG ratio of 0.97 and a beta of 0.78. The company has a fifty day moving average price of $190.06 and a 200-day moving average price of $205.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group has a 52-week low of $160.30 and a 52-week high of $258.74.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABG shares. Zacks Research cut Asbury Automotive Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Barclays reaffirmed a “reduce” rating on shares of Asbury Automotive Group in a research note on Tuesday, October 6th. Morgan Stanley dropped their target price on shares of Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $214.00.

Insider Activity at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the transaction, the senior vice president directly owned 11,259 shares of the company’s stock, valued at $2,817,902.52. The trade was 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 through the SEC website. Company 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.