Asbury Automotive Group, Inc. (ABG) – What Are Investment Firms Thinking About This Stock?

Asbury Automotive Group, Inc. (NYSE:ABG) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $220.88.

ABG has been the subject of a number of analyst reports. UBS Group raised their price target on Asbury Automotive Group from $193.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. 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 research note on Tuesday, October 6th. Morgan Stanley dropped their price objective on 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. Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Thursday, October 22nd. Finally, Zacks Research downgraded Asbury Automotive Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $202.91 on Tuesday. The firm has a market cap of $3.64 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.45 and a beta of 0.78. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $188.22 and its 200-day moving average is $203.37. Asbury Automotive Group has a 12-month low of $160.30 and a 12-month high of $258.74.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 27th. The company reported $6.16 EPS for the quarter, missing the consensus estimate of $6.42 by ($0.26). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. Asbury Automotive Group had a return on equity of 11.85% and a net margin of 2.66%. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period last year, the business posted $7.17 earnings per share. Sell-side analysts predict that Asbury Automotive Group will post 24.92 earnings per share for the current year.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Asbury Automotive Group by 82.5% during the third quarter. Russell Investments Group Ltd. now owns 31,466 shares of the company’s stock valued at $5,423,000 after acquiring an additional 14,223 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Asbury Automotive Group by 47.0% during the third quarter. Maryland State Retirement & Pension System now owns 3,982 shares of the company’s stock valued at $686,000 after purchasing an additional 1,274 shares in the last quarter. Jefferies Financial Group Inc. grew its position in shares of Asbury Automotive Group by 91.5% in the 3rd quarter. Jefferies Financial Group Inc. now owns 11,722 shares of the company’s stock worth $2,020,000 after buying an additional 5,600 shares during the period. Fulcrum Asset Management LLP grew its holdings in Asbury Automotive Group by 1,143.0% in the third quarter. Fulcrum Asset Management LLP now owns 4,798 shares of the company’s stock worth $835,000 after purchasing an additional 4,412 shares during the period. Finally, Ethic Inc. purchased a new stake in shares of Asbury Automotive Group in the 3rd quarter worth approximately $258,000.

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.