Asbury Automotive Group (NYSE:ABG) Trading Up 6.8% – Still a Buy?

Asbury Automotive Group, Inc. (NYSE:ABG) rose 6.8% during mid-day trading on Wednesday . The company traded as high as $224.00 and last traded at $224.4680. 9,637 shares changed hands during trading, a decline of 96% from the average session volume of 246,639 shares. The stock had previously closed at $210.12.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABG shares. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a report on Thursday, May 7th. Barclays decreased their price objective on Asbury Automotive Group from $235.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Weiss Ratings downgraded Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Citigroup dropped their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Finally, Stephens reiterated an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $233.12.

Asbury Automotive Group Trading Down 0.5%

The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. The business has a fifty day moving average price of $199.89 and a 200 day moving average price of $209.73.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the business posted $6.82 EPS. Asbury Automotive Group’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts forecast that Asbury Automotive Group, Inc. will post 26.26 earnings per share for the current year.

Insider Buying and Selling

In other news, Director B. Christopher Disantis acquired 157 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the acquisition, the director directly owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Asbury Automotive Group by 11.0% during the first quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after buying an additional 619 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Asbury Automotive Group by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock worth $61,561,000 after acquiring an additional 91,767 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Asbury Automotive Group in the first quarter worth $265,000. Empowered Funds LLC raised its stake in shares of Asbury Automotive Group by 11.4% in the 1st 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Asbury Automotive Group by 3.4% in the 1st 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 during the period.

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.