Asbury Automotive Group, Inc. (NYSE:ABG) Given Average Rating of “Hold” by Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $248.2857.

Several equities analysts have recently issued reports on ABG shares. Weiss Ratings cut Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on Asbury Automotive Group from $235.00 to $240.00 and gave the stock an “underweight” rating in a report on Friday. Barclays reduced their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating for the company in a research report on Friday, February 6th. Bank of America began coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Morgan Stanley set a $230.00 price objective on shares of Asbury Automotive Group in a research note on Monday, December 8th.

Asbury Automotive Group Stock Down 2.1%

NYSE:ABG opened at $185.06 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The company’s fifty day moving average price is $223.63 and its 200-day moving average price is $233.49. Asbury Automotive Group has a 1-year low of $184.61 and a 1-year high of $274.50. The firm has a market capitalization of $3.56 billion, a P/E ratio of 7.38 and a beta of 0.81.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm earned $7.26 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Asbury Automotive Group will post 26.28 EPS for the current year.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $202.30 per share, for a total transaction of $101,150.00. Following the completion of the transaction, the director owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its position in shares of Asbury Automotive Group by 11.0% during the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after acquiring an additional 619 shares during the period. Goldman Sachs Group Inc. raised its holdings in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock worth $61,561,000 after purchasing an additional 91,767 shares during the period. United Services Automobile Association purchased a new position in Asbury Automotive Group during the first quarter worth approximately $265,000. Empowered Funds LLC grew its holdings in Asbury Automotive Group by 11.4% in the first quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock valued at $1,687,000 after purchasing an additional 783 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Asbury Automotive Group by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock valued at $11,316,000 after purchasing an additional 1,676 shares during the period.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.