Asbury Automotive Group Director Sells $132,300 in Stock (ABG)
Asbury Automotive Group (NYSE:ABG) Director Dennis Clements unloaded 2,500 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $52.92, for a total value of $132,300.00. Following the sale, the director now directly owns 34,294 shares in the company. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
ABG has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of Asbury Automotive Group (NYSE:ABG) from $46.00 to $47.00 in a research note to investors on Friday, September 6th. They now have a “hold” rating on the stock. Separately, analysts at KeyCorp upgraded shares of Asbury Automotive Group (NYSE:ABG) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. They now have a $60.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Asbury Automotive Group (NYSE:ABG) from $36.00 to $39.00 in a research note to investors on Thursday, July 25th. They now have an “underweight” rating on the stock.
One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $46.20.
Asbury Automotive Group (NYSE:ABG) traded down 1.41% during mid-day trading on Wednesday, hitting $53.24. 256,903 shares of the company’s stock traded hands. Asbury Automotive Group has a 52 week low of $27.46 and a 52 week high of $54.39. The stock has a 50-day moving average of $49.94 and a 200-day moving average of $41.80. The company has a market cap of $1.657 billion and a P/E ratio of 16.44.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.17. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Analysts expect that Asbury Automotive Group will post $3.43 EPS for the current fiscal year.
Asbury Automotive Group, Inc (NYSE:ABG) is an automotive retailers in the United States.
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