Asbury Automotive Group Inc (NYSE:ABG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, October 17th.
According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “
Other equities research analysts have also issued research reports about the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 target price on shares of Asbury Automotive Group in a research note on Thursday, October 12th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $58.00 target price (down previously from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Craig Hallum reiterated a “hold” rating and issued a $55.00 price target (down from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, TheStreet downgraded Asbury Automotive Group from a “b-” rating to a “c+” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $56.75.
Shares of Asbury Automotive Group (ABG) traded up $0.20 on Tuesday, reaching $62.15. 50,275 shares of the company traded hands, compared to its average volume of 253,846. The firm has a market cap of $1,289.66, a price-to-earnings ratio of 9.99, a PEG ratio of 1.10 and a beta of 1.55. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.09). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a return on equity of 42.24% and a net margin of 2.54%. Asbury Automotive Group’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. equities research analysts forecast that Asbury Automotive Group will post 6.28 EPS for the current fiscal year.
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In other news, Director Dennis E. Clements sold 5,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the transaction, the director now owns 20,531 shares of the company’s stock, valued at $1,204,348.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Msd Capital L. P sold 104,949 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,333 shares of company stock valued at $9,600,815. 11.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ABG. BlackRock Inc. lifted its holdings in Asbury Automotive Group by 116,095.7% in the first quarter. BlackRock Inc. now owns 2,514,474 shares of the company’s stock worth $151,120,000 after acquiring an additional 2,512,310 shares during the last quarter. FMR LLC bought a new position in Asbury Automotive Group in the first quarter worth about $45,869,000. Koch Industries Inc. bought a new position in Asbury Automotive Group in the second quarter worth about $294,000. Bank of America Corp DE increased its stake in shares of Asbury Automotive Group by 339.9% in the first quarter. Bank of America Corp DE now owns 380,516 shares of the company’s stock valued at $22,869,000 after purchasing an additional 294,008 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Asbury Automotive Group in the first quarter valued at approximately $7,555,000.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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