Asbury Automotive Group (NYSE:ABG) Downgraded by Craig Hallum to Hold

Craig Hallum lowered shares of Asbury Automotive Group (NYSE:ABG) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other research firms also recently commented on ABG. Stephens lifted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $264.00.

Asbury Automotive Group Stock Down 2.1 %

NYSE:ABG opened at $294.55 on Tuesday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 13.69 and a beta of 1.20. Asbury Automotive Group has a one year low of $202.98 and a one year high of $312.56. The stock has a 50-day simple moving average of $263.90 and a 200 day simple moving average of $247.37. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Insiders Place Their Bets

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds have recently made changes to their positions in the business. Vise Technologies Inc. raised its holdings in shares of Asbury Automotive Group by 14.1% during the fourth quarter. Vise Technologies Inc. now owns 1,681 shares of the company’s stock valued at $409,000 after buying an additional 208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Asbury Automotive Group by 23.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,563 shares of the company’s stock valued at $12,045,000 after buying an additional 9,418 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Asbury Automotive Group by 37.4% during the fourth quarter. Voloridge Investment Management LLC now owns 90,198 shares of the company’s stock valued at $21,921,000 after buying an additional 24,561 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Asbury Automotive Group by 5.5% during the fourth quarter. Tidal Investments LLC now owns 3,214 shares of the company’s stock valued at $781,000 after buying an additional 167 shares during the last quarter. Finally, Snowden Capital Advisors LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $270,000.

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.