Asbury Automotive Group Inc (ABG) Stock Rating Upgraded by Zacks Investment Research
Asbury Automotive Group Inc (NYSE:ABG) was upgraded by Zacks Investment Research from a “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. “
ABG has been the subject of several other reports. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price (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 issued a $58.00 price objective (down from $60.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. BidaskClub lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Craig Hallum restated a “hold” rating and issued a $55.00 price objective (down from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, TheStreet upgraded shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.75.
Shares of Asbury Automotive Group (ABG) traded up 0.44% during mid-day trading on Tuesday, hitting $57.05. 171,465 shares of the stock were exchanged. Asbury Automotive Group has a 52 week low of $47.50 and a 52 week high of $71.00. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.42 and a beta of 1.44. The stock’s 50-day moving average is $58.11 and its 200-day moving average is $56.72.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.09). Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm posted $1.65 EPS. Asbury Automotive Group’s revenue was up .3% on a year-over-year basis. Analysts forecast that Asbury Automotive Group will post $6.30 earnings per share for the current fiscal year.
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In other news, insider William Frederick Stax sold 495 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now owns 4,586 shares in the company, valued at approximately $248,790.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Msd Capital L. P sold 104,949 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. Insiders have sold a total of 110,444 shares of company stock worth $5,700,889 over the last three months. 11.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Asbury Automotive Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,655 shares of the company’s stock worth $433,000 after purchasing an additional 20 shares during the period. Aperio Group LLC increased its holdings in Asbury Automotive Group by 0.7% in the 2nd quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock worth $402,000 after acquiring an additional 51 shares in the last quarter. Mason Street Advisors LLC increased its holdings in Asbury Automotive Group by 2.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,401 shares of the company’s stock worth $265,000 after acquiring an additional 92 shares in the last quarter. Texas Permanent School Fund increased its holdings in Asbury Automotive Group by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock worth $777,000 after acquiring an additional 115 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Asbury Automotive Group by 4.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after acquiring an additional 132 shares in the last quarter.
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.
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