Asbury Automotive Group (NYSE:ABG) Given New $240.00 Price Target at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $235.00 to $240.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.15% from the company’s previous close.

A number of other brokerages also recently issued reports on ABG. Bank of America started coverage on shares of Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research note on Monday, December 8th. Barclays reduced their target price on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating for the company in a report on Friday, February 6th. Finally, Weiss Ratings lowered Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $248.29.

Asbury Automotive Group Stock Down 0.9%

NYSE:ABG traded down $1.70 during trading hours on Friday, hitting $187.28. 137,075 shares of the company traded hands, compared to its average volume of 219,558. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The company has a market cap of $3.61 billion, a PE ratio of 7.46 and a beta of 0.81. The firm’s 50-day simple moving average is $225.04 and its 200-day simple moving average is $234.23. Asbury Automotive Group has a one year low of $185.11 and a one year high of $274.50.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.70 by ($0.03). The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.26 EPS. Equities analysts predict that Asbury Automotive Group will post 26.28 earnings per share for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other news, Director B. Christopher Disantis acquired 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $202.30 per share, with a total value of $101,150.00. Following the acquisition, the director owned 5,400 shares in the company, valued at $1,092,420. The trade was a 10.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter valued at approximately $25,000. Quarry LP increased its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 83 shares during the period. Torren Management LLC purchased a new stake in Asbury Automotive Group in the 4th quarter worth approximately $27,000. Bogart Wealth LLC lifted its stake in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Asbury Automotive Group by 76.0% in the 4th quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock valued at $32,000 after purchasing an additional 57 shares during the period.

About Asbury Automotive Group

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.