Asbury Automotive Group, Inc. (ABG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $63.40.

Several equities research analysts have recently commented on the stock. Craig Hallum boosted their target price on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Friday.

Shares of Asbury Automotive Group (NYSE:ABG) opened at $69.15 on Friday. Asbury Automotive Group has a 52 week low of $49.10 and a 52 week high of $76.40. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60. The company has a market cap of $1,426.01, a price-to-earnings ratio of 10.41, a PEG ratio of 0.96 and a beta of 1.58.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, February 6th. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.21. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 42.06%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. sell-side analysts expect that Asbury Automotive Group will post 6.47 earnings per share for the current fiscal year.

In related news, Director Craig T. Monaghan sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total transaction of $1,028,550.00. Following the transaction, the director now owns 86,112 shares in the company, valued at approximately $5,904,699.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Juanita T. James sold 1,500 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $66.16, for a total transaction of $99,240.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,075 shares of company stock worth $3,090,893. 11.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. AHL Partners LLP acquired a new position in Asbury Automotive Group during the 2nd quarter worth about $370,000. Macquarie Group Ltd. lifted its position in Asbury Automotive Group by 8.5% during the 3rd quarter. Macquarie Group Ltd. now owns 414,366 shares of the company’s stock worth $25,318,000 after buying an additional 32,339 shares in the last quarter. Mangrove Partners acquired a new position in Asbury Automotive Group during the 3rd quarter worth about $2,881,000. State Street Corp lifted its position in Asbury Automotive Group by 4.4% during the 2nd quarter. State Street Corp now owns 592,006 shares of the company’s stock worth $33,477,000 after buying an additional 24,719 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Asbury Automotive Group by 2.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 195,424 shares of the company’s stock worth $11,941,000 after buying an additional 4,640 shares in the last quarter.

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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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