Asbury Automotive Group, Inc. (NYSE:ABG) Receives $250.57 Consensus Target Price from Analysts

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been given a consensus rating of “Hold” by the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $250.5714.

Several analysts have weighed in on ABG shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Asbury Automotive Group in a research note on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Zacks Research cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a research report on Wednesday, November 5th. Finally, Barclays reduced their price objective on Asbury Automotive Group from $275.00 to $251.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 83 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after purchasing an additional 54 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Asbury Automotive Group by 64.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock valued at $49,000 after purchasing an additional 81 shares in the last quarter. eCIO Inc. acquired a new stake in shares of Asbury Automotive Group in the first quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC raised its position in Asbury Automotive Group by 104.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company’s stock worth $80,000 after purchasing an additional 172 shares during the last quarter.

Asbury Automotive Group Stock Up 2.0%

Shares of NYSE ABG opened at $255.66 on Wednesday. Asbury Automotive Group has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.99. The business has a fifty day moving average of $234.01 and a two-hundred day moving average of $240.15. The stock has a market cap of $4.97 billion, a PE ratio of 8.96 and a beta of 0.82.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.37. Asbury Automotive Group had a net margin of 3.15% and a return on equity of 15.26%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the firm earned $6.35 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

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.