JPMorgan Chase & Co. Issues Pessimistic Forecast for Asbury Automotive Group (NYSE:ABG) Stock Price

Asbury Automotive Group (NYSE:ABG) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $290.00 to $250.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.45% from the company’s previous close.

ABG has been the subject of several other research reports. Stephens raised their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $263.00.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded down $7.10 during mid-day trading on Thursday, reaching $230.53. 68,248 shares of the company traded hands, compared to its average volume of 179,962. The firm has a market cap of $4.53 billion, a PE ratio of 10.72 and a beta of 1.22. Asbury Automotive Group has a 52 week low of $206.62 and a 52 week high of $312.56. The company’s 50 day moving average price is $267.59 and its 200-day moving average price is $250.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Insider Activity at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its stake in Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares during the period. Bank of Montreal Can lifted its stake in Asbury Automotive Group by 2.0% during the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company’s stock worth $608,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Asbury Automotive Group by 2.4% during the third quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock worth $506,000 after buying an additional 50 shares during the period. HighTower Advisors LLC grew its stake in shares of Asbury Automotive Group by 3.2% in the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock valued at $409,000 after buying an additional 53 shares in the last quarter. Finally, Mariner LLC raised its holdings in shares of Asbury Automotive Group by 3.7% in the 4th quarter. Mariner LLC now owns 1,856 shares of the company’s stock valued at $451,000 after buying an additional 67 shares during the period.

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.