TheStreet downgraded shares of Asbury Automotive Group Inc (NYSE:ABG) from a b- rating to a c+ rating in a research note released on Thursday.

ABG has been the topic of a number of other research reports. Jefferies Group LLC restated a hold rating and set a $61.00 price target (down previously from $68.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Deutsche Bank AG restated a hold rating and set a $58.00 price target (down previously from $60.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. BidaskClub downgraded shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of Asbury Automotive Group from a strong sell rating to a hold rating in a report on Tuesday, August 8th. Finally, Craig Hallum restated a hold rating and set a $55.00 price target (down previously from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $57.80.

Shares of Asbury Automotive Group (ABG) opened at 52.25 on Thursday. The stock has a market capitalization of $1.09 billion, a PE ratio of 6.80 and a beta of 1.42. The company’s 50-day moving average is $55.06 and its 200-day moving average is $59.32. Asbury Automotive Group has a 12 month low of $47.50 and a 12 month high of $71.00.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. Equities research analysts expect that Asbury Automotive Group will post $6.34 earnings per share for the current fiscal year.

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In related news, insider William Frederick Stax sold 495 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now directly owns 4,586 shares in the company, valued at approximately $248,790.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO David W. Hult sold 12,500 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total transaction of $716,750.00. Following the completion of the transaction, the chief operating officer now owns 41,911 shares in the company, valued at $2,403,176.74. The disclosure for this sale can be found here. Insiders sold a total of 15,738 shares of company stock worth $897,157 over the last quarter. 11.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new position in Asbury Automotive Group during the first quarter worth about $104,000. Victory Capital Management Inc. raised its position in Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after buying an additional 587 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after buying an additional 132 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Asbury Automotive Group during the first quarter worth about $210,000. Finally, State of Alaska Department of Revenue raised its position in Asbury Automotive Group by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock worth $210,000 after buying an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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