Asbury Automotive Group (NYSE:ABG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
Separately, Craig Hallum increased their price objective 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, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $63.40.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.21. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $1.56 EPS. analysts predict that Asbury Automotive Group will post 7.26 earnings per share for the current year.
In other Asbury Automotive Group news, Director Juanita T. James sold 1,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.18, for a total value of $66,180.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Craig T. Monaghan sold 28,575 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $68.70, for a total transaction of $1,963,102.50. Following the completion of the transaction, the director now owns 86,112 shares in the company, valued at $5,915,894.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,575 shares of company stock worth $3,057,833. 11.90% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in ABG. Cornerstone Capital Management Holdings LLC. purchased a new position in Asbury Automotive Group in the 4th quarter valued at about $102,000. Victory Capital Management Inc. lifted its holdings in Asbury Automotive Group by 39.1% in the 3rd quarter. Victory Capital Management Inc. now owns 3,067 shares of the company’s stock valued at $187,000 after purchasing an additional 862 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new position in Asbury Automotive Group in the 4th quarter valued at about $200,000. Public Employees Retirement System of Ohio lifted its holdings in Asbury Automotive Group by 10.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,673 shares of the company’s stock valued at $208,000 after purchasing an additional 340 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in Asbury Automotive Group in the 4th quarter valued at about $218,000.
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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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