Asbury Automotive Group, Inc. (NYSE:ABG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been assigned an average rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One equities 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 price target among brokerages that have covered the stock in the last year is $232.00.

ABG has been the subject of several recent research reports. Morgan Stanley set a $220.00 price objective on shares of Asbury Automotive Group in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. Barclays increased their price objective on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Citigroup dropped their price objective on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $242.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd.

Asbury Automotive Group Stock Down 1.2%

ABG opened at $198.65 on Friday. The firm has a 50 day moving average price of $195.89 and a 200 day moving average price of $216.27. The company has a market cap of $3.70 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.11 and a beta of 0.74. Asbury Automotive Group has a 1 year low of $172.01 and a 1 year high of $274.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the company earned $6.82 EPS. Asbury Automotive Group’s revenue was down .9% on a year-over-year basis. Sell-side analysts expect that Asbury Automotive Group will post 25.68 earnings per share for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis bought 157 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the purchase, the director owned 6,400 shares of the company’s stock, valued at $1,166,784. This trade represents a 2.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABG. AQR Capital Management LLC boosted its stake in shares of Asbury Automotive Group by 11.0% in the first quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after purchasing an additional 619 shares during the period. Goldman Sachs Group Inc. raised its holdings in Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after acquiring an additional 91,767 shares in the last quarter. United Services Automobile Association acquired a new stake in Asbury Automotive Group in the first quarter valued at $265,000. Empowered Funds LLC raised its holdings in Asbury Automotive Group by 11.4% in the first quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock valued at $1,687,000 after acquiring an additional 783 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Asbury Automotive Group by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock valued at $11,316,000 after acquiring an additional 1,676 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.