Asbury Automotive Group Inc. (NYSE:ABG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “

A number of other research analysts have also recently weighed in on ABG. TheStreet upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Wolfe Research began coverage on Asbury Automotive Group in a research report on Tuesday, September 13th. They set a “market perform” rating for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $70.75.

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

Asbury Automotive Group (NYSE:ABG) traded down 0.27% during trading on Monday, reaching $55.25. 129,627 shares of the company’s stock traded hands. The firm has a market capitalization of $1.22 billion, a PE ratio of 8.42 and a beta of 1.20. Asbury Automotive Group has a one year low of $43.56 and a one year high of $87.61. The company has a 50-day moving average price of $54.63 and a 200 day moving average price of $55.82.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.65 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.65. Asbury Automotive Group had a return on equity of 51.29% and a net margin of 2.45%. The firm earned $1.63 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts anticipate that Asbury Automotive Group will post $6.11 earnings per share for the current fiscal year.

In related news, SVP George A. Villasana sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $60.36, for a total transaction of $603,600.00. Following the transaction, the senior vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $1,342,285.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig T. Monaghan sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total value of $1,563,840.00. Following the transaction, the chief executive officer now directly owns 125,519 shares in the company, valued at $7,270,060.48. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in ABG. HBK Investments L P increased its stake in shares of Asbury Automotive Group by 50.4% in the first quarter. HBK Investments L P now owns 54,440 shares of the company’s stock worth $3,258,000 after buying an additional 18,240 shares during the period. Riverhead Capital Management LLC purchased a new stake in shares of Asbury Automotive Group during the first quarter worth $168,000. UBS Group AG increased its stake in shares of Asbury Automotive Group by 125.8% in the first quarter. UBS Group AG now owns 290,279 shares of the company’s stock worth $17,370,000 after buying an additional 161,722 shares during the period. State Street Corp increased its stake in shares of Asbury Automotive Group by 10.6% in the first quarter. State Street Corp now owns 648,029 shares of the company’s stock worth $38,784,000 after buying an additional 62,173 shares during the period. Finally, Menta Capital LLC purchased a new stake in shares of Asbury Automotive Group during the first quarter worth $569,000.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.

5 Day Chart for NYSE:ABG

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