Asbury Automotive Group, Inc. (NYSE:ABG) Receives Average Rating of “Hold” from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $247.5714.

ABG has been the topic of several research reports. Weiss Ratings cut shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Bank of America initiated coverage on shares of Asbury Automotive Group in a report on Wednesday. They issued a “buy” rating on the stock. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a report on Monday, December 8th. JPMorgan Chase & Co. lifted their price target on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 5th. Finally, Zacks Research downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th.

Asbury Automotive Group Trading Up 0.8%

Shares of Asbury Automotive Group stock opened at $213.12 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 8.49 and a beta of 0.81. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $274.50. The business has a 50-day moving average price of $234.32 and a 200-day moving average price of $238.13.

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

Institutional Trading of Asbury Automotive Group

A number of institutional investors have recently bought and sold shares of ABG. Los Angeles Capital Management LLC bought a new position in Asbury Automotive Group during the fourth quarter valued at $25,000. Torren Management LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth about $27,000. Quarry LP grew its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 83 shares during the last quarter. Bogart Wealth LLC raised its position in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Finally, Osaic Holdings Inc. lifted 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 worth $31,000 after purchasing an additional 54 shares during the last quarter.

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.