Asbury Automotive Group (NYSE:ABG) Hits New 52-Week High at $253.40

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) hit a new 52-week high on Monday . The stock traded as high as $253.40 and last traded at $253.40, with a volume of 52093 shares changing hands. The stock had previously closed at $247.98.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut shares of Asbury Automotive Group from an “overweight” rating to a “neutral” rating and set a $230.00 price objective on the stock. in a research note on Monday, June 10th.

Asbury Automotive Group Price Performance

The company has a current ratio of 1.06, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $233.07 and a 200 day moving average price of $221.16. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.34 and a beta of 1.17.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.76 by ($0.55). The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.26 billion. Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.37 EPS. As a group, equities research analysts expect that Asbury Automotive Group, Inc. will post 29.47 earnings per share for the current year.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in Asbury Automotive Group by 26.4% during the first quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock valued at $4,768,000 after purchasing an additional 4,224 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Asbury Automotive Group by 31.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,589 shares of the company’s stock worth $3,957,000 after acquiring an additional 4,198 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $12,855,000. Federated Hermes Inc. increased its position in shares of Asbury Automotive Group by 34,097.0% during the fourth quarter. Federated Hermes Inc. now owns 11,285 shares of the company’s stock worth $2,539,000 after purchasing an additional 11,252 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in Asbury Automotive Group by 147.1% in the 4th quarter. Quadrature Capital Ltd now owns 18,037 shares of the company’s stock valued at $4,063,000 after purchasing an additional 10,737 shares during the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.