Asbury Automotive Group Inc (ABG) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Asbury Automotive Group Inc (NYSE:ABG) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other equities research analysts also recently issued reports on ABG. ValuEngine downgraded shares of Asbury Automotive Group from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a neutral rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Finally, Morgan Stanley cut their price objective on shares of Asbury Automotive Group from $56.00 to $53.00 and set an underweight rating for the company in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Asbury Automotive Group has an average rating of Hold and a consensus price target of $62.67.

Asbury Automotive Group (NYSE ABG) traded down 5.37% during trading on Friday, hitting $54.65. The company had a trading volume of 524,293 shares. The stock has a market capitalization of $1.15 billion, a PE ratio of 6.99 and a beta of 1.33. Asbury Automotive Group has a one year low of $47.50 and a one year high of $71.00. The stock has a 50-day moving average of $57.19 and a 200-day moving average of $61.39.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Thursday, April 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.09. Asbury Automotive Group had a net margin of 2.61% and a return on equity of 52.23%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $1.36 EPS. Asbury Automotive Group’s revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Asbury Automotive Group will post $6.55 EPS for the current year.

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In other news, Director Thomas C. Deloach, Jr. sold 1,676 shares of Asbury Automotive Group stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $59.20, for a total value of $99,219.20. Following the completion of the sale, the director now directly owns 82,000 shares in the company, valued at $4,854,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP George Karolis sold 2,743 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $55.98, for a total transaction of $153,553.14. Following the completion of the sale, the senior vice president now owns 5,083 shares of the company’s stock, valued at $284,546.34. The disclosure for this sale can be found here. Insiders have sold 16,919 shares of company stock valued at $969,522 over the last 90 days. Company insiders own 11.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ABG. Comerica Bank increased its stake in Asbury Automotive Group by 5.5% in the fourth quarter. Comerica Bank now owns 21,019 shares of the company’s stock worth $1,338,000 after buying an additional 1,100 shares during the last quarter. Numeric Investors LLC increased its stake in Asbury Automotive Group by 76.3% in the fourth quarter. Numeric Investors LLC now owns 20,100 shares of the company’s stock worth $1,240,000 after buying an additional 8,700 shares during the last quarter. Elliott Management Corp increased its stake in Asbury Automotive Group by 68.5% in the fourth quarter. Elliott Management Corp now owns 376,024 shares of the company’s stock worth $23,201,000 after buying an additional 152,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Asbury Automotive Group by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 774,953 shares of the company’s stock worth $47,815,000 after buying an additional 17,185 shares during the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in Asbury Automotive Group during the fourth quarter worth $2,559,000. Institutional investors own 99.89% of the company’s stock.

About Asbury Automotive Group

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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