Brokerages Set Asbury Automotive Group, Inc. (ABG) PT at $71.40

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $73.40.

A number of brokerages recently issued reports on ABG. Morgan Stanley raised their price objective on shares of Asbury Automotive Group from $71.00 to $81.00 and gave the company a “sell” rating in a report on Wednesday. SunTrust Banks began coverage on shares of Asbury Automotive Group in a research report on Friday, August 24th. They set a “hold” rating and a $78.00 target price for the company. Buckingham Research downgraded shares of Asbury Automotive Group from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research report on Wednesday, October 3rd. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday, July 18th. Finally, ValuEngine downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th.

In other news, Director Juanita T. James sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $74.73, for a total transaction of $112,095.00. Following the completion of the sale, the director now owns 8,679 shares of the company’s stock, valued at approximately $648,581.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas C. Deloach, Jr. sold 10,616 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $74.75, for a total transaction of $793,546.00. Following the sale, the director now directly owns 68,652 shares of the company’s stock, valued at approximately $5,131,737. The disclosure for this sale can be found here. Insiders have sold a total of 27,116 shares of company stock valued at $2,030,191 in the last three months. Insiders own 1.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Asbury Automotive Group by 184.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,088,633 shares of the company’s stock worth $74,843,000 after purchasing an additional 705,871 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Asbury Automotive Group by 26.3% in the 2nd quarter. BlackRock Inc. now owns 3,091,329 shares of the company’s stock worth $211,911,000 after purchasing an additional 643,580 shares in the last quarter. Abrams Capital Management L.P. lifted its holdings in shares of Asbury Automotive Group by 46.1% in the 3rd quarter. Abrams Capital Management L.P. now owns 1,585,091 shares of the company’s stock worth $108,975,000 after purchasing an additional 500,000 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Asbury Automotive Group by 57.7% in the 3rd quarter. Prudential Financial Inc. now owns 479,040 shares of the company’s stock worth $32,934,000 after purchasing an additional 175,343 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Asbury Automotive Group by 209.8% in the 2nd quarter. American Century Companies Inc. now owns 255,933 shares of the company’s stock worth $17,544,000 after purchasing an additional 173,333 shares in the last quarter.

Shares of ABG stock traded down $0.21 on Monday, reaching $68.45. The company had a trading volume of 4,682 shares, compared to its average volume of 225,066. The stock has a market capitalization of $1.33 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.47. The company has a current ratio of 1.21, a quick ratio of 0.36 and a debt-to-equity ratio of 1.77. Asbury Automotive Group has a one year low of $58.60 and a one year high of $77.75.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, October 23rd. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.33. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a net margin of 2.52% and a return on equity of 37.83%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.48 EPS. As a group, equities analysts predict that Asbury Automotive Group will post 8.09 EPS for the current fiscal year.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

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