Asbury Automotive Group Inc (NYSE:ABG) – Equities researchers at Jefferies Group lowered their Q3 2017 EPS estimates for shares of Asbury Automotive Group in a report issued on Tuesday. Jefferies Group analyst B. Jordan now expects that the company will earn $1.60 per share for the quarter, down from their prior estimate of $1.64. Jefferies Group has a “Hold” rating and a $61.00 price objective on the stock. Jefferies Group also issued estimates for Asbury Automotive Group’s Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $6.34 EPS, Q1 2018 earnings at $1.53 EPS, Q2 2018 earnings at $1.63 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $6.40 EPS.

A number of other analysts have also commented on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $60.00 target price (down from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. BidaskClub raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. ValuEngine lowered Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley decreased their target price on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Finally, Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $57.80.

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Shares of Asbury Automotive Group (NYSE ABG) opened at 53.95 on Friday. The company has a market capitalization of $1.14 billion, a P/E ratio of 6.90 and a beta of 1.44. Asbury Automotive Group has a one year low of $47.50 and a one year high of $71.00. The firm has a 50 day moving average price of $55.66 and a 200 day moving average price of $60.10.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the 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 the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of ABG. Trexquant Investment LP bought a new stake in shares of Asbury Automotive Group during the first quarter worth approximately $324,000. OppenheimerFunds Inc. raised its stake in shares of Asbury Automotive Group by 17.7% in the first quarter. OppenheimerFunds Inc. now owns 77,424 shares of the company’s stock worth $4,654,000 after buying an additional 11,662 shares in the last quarter. UBS Group AG raised its stake in shares of Asbury Automotive Group by 3.0% in the first quarter. UBS Group AG now owns 449,424 shares of the company’s stock worth $27,011,000 after buying an additional 12,930 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Asbury Automotive Group by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 171,667 shares of the company’s stock worth $10,318,000 after buying an additional 13,156 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Asbury Automotive Group by 13.6% in the first quarter. State of Tennessee Treasury Department now owns 18,536 shares of the company’s stock worth $1,114,000 after buying an additional 2,222 shares in the last quarter. 99.89% of the stock is owned by hedge funds and other institutional investors.

In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $59.20, for a total transaction of $99,219.20. Following the completion of the sale, the director now directly owns 82,000 shares of the company’s stock, valued at approximately $4,854,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David W. Hult sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now directly owns 41,911 shares of the company’s stock, valued at $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 over the last ninety days. 11.90% of the stock is currently owned by corporate insiders.

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 and Estimates for Asbury Automotive Group (NYSE:ABG)

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