Asbury Automotive Group Trading Up 3.8% After Earnings Beat (ABG)
Shares of Asbury Automotive Group (NYSE:ABG) were up 3.8% during trading on Thursday following a better than expected earnings announcement, AnalystRatings.Net reports. The stock traded as high as $60.56 and last traded at $59.66, with a volume of 208,785 shares trading hands. The stock had previously closed at $57.48.
The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.17. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis.
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 from $52.00 to $54.00 in a research note on Thursday. Separately, analysts at BB&T Corp. upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $67.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Asbury Automotive Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $60.40 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.20.
The stock has a 50-day moving average of $54.64 and a 200-day moving average of $51.67. The company has a market cap of $1.852 billion and a price-to-earnings ratio of 16.39.
Asbury Automotive Group, Inc (NYSE:ABG) is an automotive retailers in the United States.
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