Asbury Automotive Group, Inc. (NYSE:ABG) Receives $246.71 Average Price Target from Analysts

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment 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 target price among brokers that have issued ratings on the stock in the last year is $246.7143.

ABG has been the topic of several recent research reports. Barclays boosted their target price on Asbury Automotive Group from $225.00 to $265.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating for the company in a report on Tuesday, August 4th. Stephens reiterated an “overweight” rating and set a $242.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Citigroup boosted their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, UBS Group set a $250.00 target price on Asbury Automotive Group in a report on Wednesday, July 29th.

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the transaction, the senior vice president owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

A number of institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Asbury Automotive Group by 19,410.7% during the 2nd quarter. California State Teachers Retirement System now owns 4,302,308 shares of the company’s stock valued at $865,108,000 after buying an additional 4,280,257 shares during the period. BlackRock Inc. purchased a new position in Asbury Automotive Group in the second quarter worth approximately $593,499,000. Dimensional Fund Advisors LP grew its holdings in shares of Asbury Automotive Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock worth $225,977,000 after purchasing an additional 34,104 shares during the period. State Street Corp grew its holdings in shares of Asbury Automotive Group by 1.2% during the 4th quarter. State Street Corp now owns 781,228 shares of the company’s stock worth $181,659,000 after purchasing an additional 9,535 shares during the period. Finally, Norges Bank acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth about $77,963,000.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $210.28 on Thursday. The company has a market cap of $3.77 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.83 and a beta of 0.71. Asbury Automotive Group has a twelve month low of $172.01 and a twelve month high of $263.38. The company’s 50-day moving average price is $213.42 and its 200-day moving average price is $205.67. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.31 by $0.51. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. Asbury Automotive Group’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.43 EPS. On average, sell-side analysts forecast that Asbury Automotive Group will post 26.43 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.