Asbury Automotive Group, Inc. (NYSE:ABG) Receives $248.29 Consensus Price Target from Analysts

Asbury Automotive Group, Inc. (NYSE:ABG) has received an average recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $248.2857.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a report on Monday, December 8th. Weiss Ratings lowered 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. Finally, Barclays decreased their price objective on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th.

Asbury Automotive Group Stock Up 2.0%

ABG opened at $193.71 on Monday. Asbury Automotive Group has a twelve month low of $184.61 and a twelve month high of $274.50. The company’s 50-day moving average price is $220.29 and its two-hundred day moving average price is $232.27. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 7.72 and a beta of 0.81. 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 issued its quarterly earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.70 by ($0.03). The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations 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 previous year, the business earned $7.26 EPS. As a group, equities analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $202.30 per share, with a total value of $101,150.00. Following the completion of the acquisition, the director owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Abrams Capital Management L.P. grew its position in Asbury Automotive Group by 2.2% during the third quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company’s stock worth $526,910,000 after buying an additional 46,952 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Asbury Automotive Group by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,122,322 shares of the company’s stock valued at $260,980,000 after acquiring an additional 18,154 shares in the last quarter. Eminence Capital LP boosted its position in shares of Asbury Automotive Group by 36.0% during the 2nd quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock valued at $239,055,000 after acquiring an additional 265,539 shares during the last quarter. State Street Corp boosted its position in shares of Asbury Automotive Group by 1.2% during the 4th quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after acquiring an additional 9,535 shares during the last quarter. Finally, Timucuan Asset Management Inc. FL grew its holdings in shares of Asbury Automotive Group by 1.5% during the second quarter. Timucuan Asset Management Inc. FL now owns 724,082 shares of the company’s stock worth $172,723,000 after purchasing an additional 10,924 shares in the last quarter.

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.