Asbury Automotive Group, Inc. (NYSE:ABG) Given Consensus Rating of “Hold” by Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has earned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $250.5714.

A number of research firms have weighed in on ABG. JPMorgan Chase & Co. raised their price target on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a research report on Monday, December 8th. Citigroup restated a “neutral” rating on shares of Asbury Automotive Group in a research note on Thursday, September 25th. Barclays dropped their price target on Asbury Automotive Group from $275.00 to $251.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Finally, Zacks Research cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th.

Asbury Automotive Group Stock Down 2.3%

Shares of Asbury Automotive Group stock opened at $245.58 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.30. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 8.61 and a beta of 0.82. The firm’s 50-day moving average is $234.64 and its two-hundred day moving average is $240.19. Asbury Automotive Group has a 1 year low of $201.68 and a 1 year high of $312.56.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.37. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.84 billion. Asbury Automotive Group had a return on equity of 15.26% and a net margin of 3.15%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $6.35 EPS. As a group, research analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

Institutional Trading of Asbury Automotive Group

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Asbury Automotive Group by 5.4% in the 1st quarter. Royal Bank of Canada now owns 106,948 shares of the company’s stock valued at $23,619,000 after acquiring an additional 5,468 shares during the period. Hsbc Holdings PLC grew its stake in Asbury Automotive Group by 116.4% in the 2nd quarter. Hsbc Holdings PLC now owns 10,857 shares of the company’s stock valued at $2,572,000 after buying an additional 5,840 shares during the last quarter. Creative Planning grew its stake in shares of Asbury Automotive Group by 30.4% in the second quarter. Creative Planning now owns 8,533 shares of the company’s stock valued at $2,035,000 after acquiring an additional 1,989 shares in the last quarter. American Century Companies Inc. grew its stake in Asbury Automotive Group by 16.7% during the second quarter. American Century Companies Inc. now owns 44,141 shares of the company’s stock worth $10,529,000 after buying an additional 6,314 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Asbury Automotive Group during the 1st quarter worth $795,000.

Asbury Automotive Group Company Profile

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.