Weekly Research Analysts’ Ratings Updates for Asbury Automotive Group (ABG)

Several brokerages have updated their recommendations and price targets on shares of Asbury Automotive Group (NYSE: ABG) in the last few weeks:

  • 5/14/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $88.00 price target on the stock. 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. “
  • 5/13/2019 – Asbury Automotive Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 5/7/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock. 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. “
  • 5/6/2019 – Asbury Automotive Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 5/6/2019 – Asbury Automotive Group had its price target raised by analysts at Morgan Stanley from $85.00 to $87.00. They now have an “equal weight” rating on the stock.
  • 4/24/2019 – Asbury Automotive Group was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock.
  • 4/16/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $84.00 price target on the stock. 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. “

Shares of NYSE ABG traded up $0.18 during midday trading on Thursday, reaching $79.80. The stock had a trading volume of 3,763 shares, compared to its average volume of 174,845. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $1.52 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. Asbury Automotive Group, Inc. has a 12-month low of $58.60 and a 12-month high of $82.30.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.28. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Asbury Automotive Group had a net margin of 2.43% and a return on equity of 36.35%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 earnings per share. On average, research analysts expect that Asbury Automotive Group, Inc. will post 8.93 EPS for the current year.

In related news, Director Thomas C. Deloach, Jr. sold 9,000 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $71.67, for a total transaction of $645,030.00. Following the completion of the transaction, the director now directly owns 46,703 shares of the company’s stock, valued at $3,347,204.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jed Milstein sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $69.41, for a total transaction of $69,410.00. Following the transaction, the senior vice president now directly owns 13,027 shares of the company’s stock, valued at $904,204.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,599 shares of company stock valued at $5,080,979. Corporate insiders own 1.36% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its stake in Asbury Automotive Group by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 7,592 shares of the company’s stock valued at $527,000 after acquiring an additional 137 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Asbury Automotive Group by 2.7% during the fourth quarter. State of Alaska Department of Revenue now owns 6,554 shares of the company’s stock valued at $436,000 after acquiring an additional 170 shares in the last quarter. Mason Street Advisors LLC grew its stake in Asbury Automotive Group by 2.9% during the first quarter. Mason Street Advisors LLC now owns 6,262 shares of the company’s stock valued at $434,000 after acquiring an additional 175 shares in the last quarter. Keybank National Association OH grew its stake in Asbury Automotive Group by 1.5% during the fourth quarter. Keybank National Association OH now owns 13,175 shares of the company’s stock valued at $878,000 after acquiring an additional 200 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Asbury Automotive Group by 26.1% during the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock valued at $71,000 after acquiring an additional 209 shares in the last quarter.

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.

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