Asbury Automotive Group (NYSE:ABG) Issues Earnings Results, Misses Expectations By $0.26 EPS

Asbury Automotive Group (NYSE:ABG) issued its quarterly earnings data on Tuesday. The company reported $6.16 EPS for the quarter, missing analysts’ consensus estimates of $6.42 by ($0.26), FiscalAI reports. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%.

Asbury Automotive Group Stock Up 0.2%

ABG opened at $173.08 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. The firm has a market cap of $3.11 billion, a P/E ratio of 6.47, a PEG ratio of 0.97 and a beta of 0.78. Asbury Automotive Group has a 52 week low of $160.30 and a 52 week high of $258.74. The business’s fifty day simple moving average is $190.06 and its 200 day simple moving average is $205.47.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ABG shares. Barclays restated a “reduce” rating on shares of Asbury Automotive Group in a research report on Tuesday, October 6th. Zacks Research lowered shares of Asbury Automotive Group from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Seaport Research Partners upgraded shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, September 8th. Citigroup raised their price objective on shares of 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 cut their price objective on Asbury Automotive Group from $250.00 to $193.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $214.00.

Insider Buying and Selling

In related 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 value of $237,265.44. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.

The company’s operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.

Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.