Asbury Automotive Group (NYSE:ABG) Hits New 1-Year Low – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $197.51 and last traded at $201.46, with a volume of 26319 shares changing hands. The stock had previously closed at $207.63.

Analyst Ratings Changes

ABG has been the subject of several recent research reports. Weiss Ratings cut Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research note on Monday, December 8th. Zacks Research downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Bank of America began coverage on shares of Asbury Automotive Group in a research note on Wednesday. They set a “buy” rating for the company. Finally, Barclays cut their price objective on shares of Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and a consensus price target of $247.57.

Asbury Automotive Group Stock Performance

The stock has a market capitalization of $3.94 billion, a P/E ratio of 8.16 and a beta of 0.81. The stock has a 50 day simple moving average of $233.66 and a two-hundred day simple moving average of $237.92. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.26 EPS. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Asbury Automotive Group during the 4th quarter worth about $25,000. Torren Management LLC acquired a new stake in Asbury Automotive Group in the 4th quarter valued at about $27,000. Quarry LP grew its holdings in Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares during the period. Bogart Wealth LLC increased its position in Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after buying an additional 44 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after buying an additional 54 shares during the period.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.