Asbury Automotive Group (NYSE:ABG) Downgraded by Stephens to “Equal Weight”

Stephens cut shares of Asbury Automotive Group (NYSE:ABG) from an overweight rating to an equal weight rating in a research report sent to investors on Friday, Marketbeat.com reports. Stephens currently has $200.00 target price on the stock.

ABG has been the topic of several other research reports. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, October 6th. Zacks Research downgraded shares of Asbury Automotive Group from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. UBS Group lifted their price target on shares of Asbury Automotive Group from $193.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Barclays cut their price target on shares of Asbury Automotive Group from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. Finally, Bank of America reiterated a “buy” rating and issued a $232.00 price target on shares of Asbury Automotive Group in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $217.62.

Asbury Automotive Group Stock Down 1.1%

NYSE ABG opened at $197.44 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $187.43 and its two-hundred day moving average is $202.37. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.44 and a beta of 0.78. Asbury Automotive Group has a 1-year low of $160.30 and a 1-year high of $258.74.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $6.16 earnings per share for the quarter, missing the consensus estimate of $6.42 by ($0.26). Asbury Automotive Group had a return on equity of 11.85% and a net margin of 2.66%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same quarter last year, the firm earned $7.17 EPS. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities analysts forecast that Asbury Automotive Group will post 24.77 earnings per share for the current fiscal year.

Institutional Trading of Asbury Automotive Group

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Asbury Automotive Group in the second quarter valued at approximately $593,499,000. Dimensional Fund Advisors LP raised its stake in Asbury Automotive Group by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after acquiring an additional 34,104 shares during the period. Cooke & Bieler LP bought a new stake in Asbury Automotive Group in the 3rd quarter valued at $65,167,000. Madison Asset Management LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter valued at $60,592,000. Finally, Lakewood Capital Management LP acquired a new stake in Asbury Automotive Group during the 2nd quarter valued at $35,919,000.

About Asbury Automotive Group

Asbury Automotive Group is a U.S. automotive retailer that operates franchised new- and used-vehicle dealerships. Its dealerships sell vehicles from a range of manufacturers and offer related services, including vehicle financing and insurance products, maintenance and repairs, parts sales, and collision repair. The company also operates Clicklane, a digital platform that lets customers research, purchase, finance, and arrange delivery of vehicles online. Asbury was founded in 1995 and has expanded through acquisitions, including its 2021 purchase of Larry H. Miller Dealerships.