Favorable Press Coverage Somewhat Unlikely to Affect Asbury Automotive Group (ABG) Share Price
News coverage about Asbury Automotive Group (NYSE:ABG) has trended positive on Sunday, Accern reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Asbury Automotive Group earned a news sentiment score of 0.41 on Accern’s scale. Accern also gave news headlines about the company an impact score of 46.0209370329238 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Several research firms have commented on ABG. Zacks Investment Research raised shares of Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. TheStreet downgraded shares of Asbury Automotive Group from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. Deutsche Bank AG reissued a “hold” rating and set a $58.00 price target (down from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and set a $61.00 price target (down from $68.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Asbury Automotive Group has an average rating of “Hold” and an average target price of $57.80.
Shares of Asbury Automotive Group (NYSE:ABG) remained flat at $58.45 on Friday. The company’s stock had a trading volume of 353,107 shares. Asbury Automotive Group has a 12 month low of $47.50 and a 12 month high of $71.00. The company has a 50-day moving average price of $53.48 and a 200 day moving average price of $57.15. The stock has a market capitalization of $1.22 billion, a PE ratio of 7.60 and a beta of 1.42.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, analysts anticipate that Asbury Automotive Group will post $6.34 earnings per share for the current year.
In related news, Director Msd Capital L. P sold 104,949 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total value of $5,380,735.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Frederick Stax sold 495 shares of the firm’s 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 completion of the sale, the insider now owns 4,586 shares of the company’s stock, valued at $248,790.50. The disclosure for this sale can be found here. 11.90% of the stock is owned by company insiders.
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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.
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