Asbury Automotive Group PT Raised to $42.00 (ABG)
Stock analysts at Morgan Stanley hoisted their price objective on shares of Asbury Automotive Group (NYSE:ABG) from $39.00 to $42.00 in a report issued on Monday, Stock Ratings Network reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 13.83% from the stock’s previous close.
In other Asbury Automotive Group news, Director Vernon E. Jordan, Jr. sold 20,918 shares of Asbury Automotive Group stock on the open market in a transaction dated Thursday, October 31st. The stock was sold at an average price of $47.73, for a total transaction of $998,416.14. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Asbury Automotive Group (NYSE:ABG) traded up 1.44% on Monday, hitting $48.74. 414,423 shares of the company’s stock traded hands. Asbury Automotive Group has a 1-year low of $27.60 and a 1-year high of $55.82. The stock has a 50-day moving average of $52. and a 200-day moving average of $46.09. The company has a market cap of $1.517 billion and a price-to-earnings ratio of 14.24.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company posted $0.72 earnings per share. Asbury Automotive Group’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Asbury Automotive Group will post $3.47 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ABG. Analysts at Zacks downgraded shares of Asbury Automotive Group from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, October 25th. They now have a $58.40 price target on the stock. Separately, analysts at Buckingham Research downgraded shares of Asbury Automotive Group from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, October 23rd. Finally, analysts at Deutsche Bank raised their price target on shares of Asbury Automotive Group 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.40.
Asbury Automotive Group, Inc (NYSE:ABG) is an automotive retailers in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.