Asbury Automotive Group Inc (NYSE:ABG) announced its earnings results on Tuesday. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.68 by $0.10, Bloomberg Earnings reports. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a return on equity of 52.23% and a net margin of 2.61%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 EPS.

Shares of Asbury Automotive Group (ABG) traded down 5.81% during mid-day trading on Tuesday, hitting $53.50. 232,395 shares of the stock traded hands. Asbury Automotive Group has a one year low of $47.50 and a one year high of $71.00. The firm has a market capitalization of $1.13 billion, a P/E ratio of 6.84 and a beta of 1.44. The company’s 50 day moving average is $55.90 and its 200 day moving average is $60.25.

COPYRIGHT VIOLATION NOTICE: This news story was first reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was copied illegally and reposted in violation of US and international trademark and copyright law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/25/asbury-automotive-group-inc-nyseabg-announces-quarterly-earnings-results-misses-estimates-by-0-10-eps.html.

In other news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $59.20, for a total value of $99,219.20. Following the transaction, the director now directly owns 82,000 shares of the company’s stock, valued at $4,854,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David W. Hult sold 12,500 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total transaction of $716,750.00. Following the completion of the transaction, the chief operating officer now directly owns 41,911 shares in the company, valued at $2,403,176.74. The disclosure for this sale can be found here. Insiders sold 16,919 shares of company stock worth $969,522 over the last three months. Insiders own 11.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new position in Asbury Automotive Group during the first quarter worth approximately $104,000. Victory Capital Management Inc. raised its position in Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after buying an additional 587 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after buying an additional 132 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Asbury Automotive Group during the first quarter worth approximately $210,000. Finally, State of Alaska Department of Revenue raised its position in Asbury Automotive Group by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock worth $210,000 after buying an additional 1,634 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors.

Several brokerages recently commented on ABG. BidaskClub upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Deutsche Bank AG restated a “hold” rating and issued a $60.00 price target (down from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. Morgan Stanley decreased their price target on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research report on Friday, June 9th. Finally, Jefferies Group LLC restated a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $62.00.

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.

Earnings History for Asbury Automotive Group (NYSE:ABG)

Receive News & Ratings for Asbury Automotive Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.