Asbury Automotive Group Inc (NYSE:ABG) – KeyCorp decreased their FY2017 earnings per share estimates for Asbury Automotive Group in a report released on Tuesday. KeyCorp analyst B. Hoselton now expects that the company will post earnings of $6.28 per share for the year, down from their previous estimate of $6.40. KeyCorp also issued estimates for Asbury Automotive Group’s FY2018 earnings at $6.70 EPS.

A number of other research firms have also commented on ABG. Morgan Stanley lowered their target price on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Deutsche Bank AG reaffirmed a “hold” rating and set a $60.00 target price (down previously from $68.00) on shares of Asbury Automotive Group in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Finally, ValuEngine lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.80.

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Asbury Automotive Group (NYSE ABG) traded down 1.02% on Thursday, hitting $53.25. The company had a trading volume of 40,227 shares. The stock has a market cap of $1.12 billion, a P/E ratio of 6.81 and a beta of 1.44. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00. The firm’s 50 day moving average price is $55.74 and its 200 day moving average price is $60.14.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by $0.09. Asbury Automotive Group had a return on equity of 48.27% and a net margin of 2.53%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $1.65 EPS. The company’s revenue was up .3% compared to the same quarter last year.

In other news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the business’s stock in a transaction 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 transaction, the director now owns 82,000 shares of the company’s stock, valued at approximately $4,854,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David W. Hult sold 12,500 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,403,176.74. The disclosure for this sale can be found here. Insiders sold a total of 16,919 shares of company stock valued at $969,522 in the last three months. 11.90% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ABG. BlackRock Inc. raised its position in shares of Asbury Automotive Group by 116,095.7% in the first quarter. BlackRock Inc. now owns 2,514,474 shares of the company’s stock valued at $151,120,000 after buying an additional 2,512,310 shares during the period. FMR LLC purchased a new position in shares of Asbury Automotive Group during the first quarter valued at about $45,869,000. Neuberger Berman Group LLC raised its position in shares of Asbury Automotive Group by 42.2% in the first quarter. Neuberger Berman Group LLC now owns 1,446,088 shares of the company’s stock valued at $86,910,000 after buying an additional 429,046 shares during the period. Prudential Financial Inc. raised its position in shares of Asbury Automotive Group by 304.9% in the first quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock valued at $31,352,000 after buying an additional 392,811 shares during the period. Finally, River Road Asset Management LLC bought a new stake in Asbury Automotive Group during the first quarter valued at approximately $21,387,000. 99.89% of the stock is owned by institutional investors.

Asbury Automotive Group Company Profile

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 and Estimates for Asbury Automotive Group (NYSE:ABG)

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