Analysts Set Asbury Automotive Group, Inc. (NYSE:ABG) PT at $249.00

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $249.00.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $225.00 to $215.00 and set an “underweight” rating for the company in a report on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Asbury Automotive Group in a research note on Saturday, September 27th. Bank of America decreased their price target on Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Morgan Stanley lifted their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, Stephens upgraded shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $225.00 to $277.00 in a report on Wednesday, August 13th.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, Director Maureen F. Morrison sold 800 shares of Asbury Automotive Group stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $255.61, for a total value of $204,488.00. Following the transaction, the director owned 5,824 shares in the company, valued at $1,488,672.64. This trade represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dean Calloway sold 400 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the sale, the senior vice president directly owned 5,295 shares of the company’s stock, valued at $1,347,048. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,957 shares of company stock worth $745,501. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after purchasing an additional 54 shares during the period. Versant Capital Management Inc raised its holdings in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock valued at $36,000 after buying an additional 50 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Asbury Automotive Group during the first quarter valued at approximately $49,000. Northwestern Mutual Wealth Management Co. lifted its position in Asbury Automotive Group by 64.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock valued at $49,000 after buying an additional 81 shares in the last quarter. Finally, eCIO Inc. purchased a new stake in Asbury Automotive Group during the 1st quarter worth $56,000.

Asbury Automotive Group Price Performance

NYSE:ABG opened at $253.54 on Monday. Asbury Automotive Group has a 12-month low of $201.68 and a 12-month high of $312.56. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.85. The company’s 50-day moving average is $242.09 and its two-hundred day moving average is $235.88. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, beating analysts’ consensus estimates of $6.82 by $0.61. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.40 earnings per share. Research analysts expect that Asbury Automotive Group will post 26.28 EPS for the current year.

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.