Jed Milstein Sells 948 Shares of Asbury Automotive Group (NYSE:ABG) Stock

Asbury Automotive Group, Inc. (NYSE:ABG) SVP Jed Milstein sold 948 shares of the company’s 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 approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asbury Automotive Group Price Performance

NYSE ABG opened at $231.40 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. Asbury Automotive Group, Inc. has a 12-month low of $172.01 and a 12-month high of $263.38. The company has a market capitalization of $4.31 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.89 and a beta of 0.74. The firm’s 50 day moving average is $206.23 and its 200-day moving average is $209.49.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 EPS for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.74%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the firm posted $7.43 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 26.39 earnings per share for the current fiscal year.

Institutional Trading of Asbury Automotive Group

A number of large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at about $27,000. Quarry LP raised its holdings in shares of Asbury Automotive Group by 319.2% in the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 83 shares during the period. Bogart Wealth LLC lifted its stake in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Finally, Osaic Holdings Inc. lifted 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 purchasing an additional 54 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Asbury Automotive Group in a research report on Friday, July 24th. Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a report on Thursday, May 7th. Stephens reissued an “overweight” rating and set a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Finally, Barclays increased their price target on Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and an average target price of $249.57.

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.