Asbury Automotive Group Inc (NYSE:ABG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “

Several other equities analysts have also issued reports on the company. BidaskClub lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Craig Hallum restated a “hold” rating and set a $55.00 price target (down from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Jefferies Group LLC restated a “hold” rating and set a $61.00 price target (down from $68.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Deutsche Bank AG restated a “hold” rating and set a $58.00 price target (down from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, Morgan Stanley reduced their price target on 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $57.80.

Shares of Asbury Automotive Group (NYSE:ABG) traded down 2.31% during mid-day trading on Tuesday, reaching $52.95. The company had a trading volume of 117,058 shares. The firm has a market capitalization of $1.10 billion, a PE ratio of 6.89 and a beta of 1.42. The stock has a 50 day moving average price of $55.22 and a 200 day moving average price of $59.73. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.67 by $0.09. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. On average, equities analysts forecast that Asbury Automotive Group will post $6.34 earnings per share for the current year.

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In other news, SVP George Karolis sold 2,743 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total value of $153,553.14. Following the sale, the senior vice president now directly owns 5,083 shares in the company, valued at approximately $284,546.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William Frederick Stax sold 495 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $54.25, for a total value of $26,853.75. Following the completion of the sale, the insider now owns 4,586 shares in the company, valued at $248,790.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,738 shares of company stock worth $897,157. 11.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Asbury Automotive Group during the first quarter worth $104,000. Victory Capital Management Inc. raised its stake in shares of 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 stake in shares of 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 stake in shares of Asbury Automotive Group during the first quarter worth $210,000. Finally, State of Alaska Department of Revenue raised its stake in shares of 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. Hedge funds and other institutional investors own 99.89% of the company’s stock.

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.

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Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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