Asbury Automotive Group Inc (ABG) Receives Average Recommendation of “Hold” from Analysts
Asbury Automotive Group Inc (NYSE:ABG) has been given an average rating of “Hold” by the nine analysts that are presently covering the company, Marketbeat.com reports. Two research 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. The average 1-year price objective among analysts that have covered the stock in the last year is $56.75.
Several analysts recently commented on the company. Zacks Investment Research upgraded Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. TheStreet lowered Asbury Automotive Group from a “b-” rating to a “c+” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Finally, Craig Hallum reaffirmed a “hold” rating and set a $55.00 target price (down from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th.
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In other Asbury Automotive Group news, COO David W. Hult sold 12,500 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the completion of the transaction, the chief operating officer now owns 41,911 shares in the company, valued at approximately $2,403,176.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Frederick Stax sold 495 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now owns 4,586 shares of the company’s stock, valued at approximately $248,790.50. The disclosure for this sale can be found here. Insiders sold a total of 15,738 shares of company stock valued at $897,157 in the last 90 days. Corporate insiders own 11.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in Asbury Automotive Group during the first quarter valued at $104,000. Victory Capital Management Inc. boosted its stake in shares of 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 period. Public Employees Retirement System of Ohio boosted its stake in shares of 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 period. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Asbury Automotive Group during the first quarter worth about $210,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of 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 period. Institutional investors own 99.89% of the company’s stock.
Asbury Automotive Group (NYSE ABG) traded up 0.58% during midday trading on Tuesday, hitting $52.25. 195,789 shares of the stock traded hands. The company has a 50-day moving average price of $55.06 and a 200-day moving average price of $59.32. The firm has a market cap of $1.09 billion, a P/E ratio of 6.80 and a beta of 1.42. Asbury Automotive Group has a 1-year low of $47.50 and a 1-year high of $71.00.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by $0.09. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts predict that Asbury Automotive Group will post $6.34 EPS for the current year.
About Asbury Automotive Group
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.
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