Asbury Automotive Group (NYSE:ABG) Sets New 52-Week Low – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG) shares reached a new 52-week low during trading on Friday . The stock traded as low as $195.11 and last traded at $195.0740, with a volume of 147879 shares. The stock had previously closed at $196.69.

Analyst Ratings Changes

ABG has been the subject of several analyst reports. Weiss Ratings cut Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Bank of America started coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating for the company. Barclays cut their target price on shares of Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a report on Friday, February 6th. Finally, Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a report on Monday, December 8th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $247.57.

Asbury Automotive Group Trading Down 0.2%

The stock has a market capitalization of $3.78 billion, a P/E ratio of 7.83 and a beta of 0.81. The stock has a 50-day moving average price of $230.10 and a two-hundred day moving average price of $236.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.35 and a current ratio of 0.95.

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

Insider Buying and Selling

In related news, Director B. Christopher Disantis bought 500 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director owned 5,400 shares in the company, valued at approximately $1,092,420. This trade represents a 10.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Asbury Automotive Group during the 4th quarter valued at approximately $77,963,000. Eminence Capital LP lifted its stake in shares of Asbury Automotive Group by 36.0% in the 2nd quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock valued at $239,055,000 after purchasing an additional 265,539 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Asbury Automotive Group by 106.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after purchasing an additional 152,669 shares during the period. Woodline Partners LP bought a new stake in shares of Asbury Automotive Group during the third quarter valued at approximately $32,684,000. Finally, American Century Companies Inc. grew its stake in Asbury Automotive Group by 261.7% in the third quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 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.