Seaport Res Ptn Issues Positive Forecast for ABG Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Stock analysts at Seaport Res Ptn boosted their Q4 2024 EPS estimates for shares of Asbury Automotive Group in a report released on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $6.52 per share for the quarter, up from their previous estimate of $6.50. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $26.01 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s FY2025 earnings at $26.62 EPS.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. Asbury Automotive Group’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business earned $8.95 EPS.

ABG has been the topic of several other research reports. StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, Bank of America dropped their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $251.20.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $229.69 on Wednesday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 8.37 and a beta of 1.16. The stock has a fifty day moving average price of $230.16 and a two-hundred day moving average price of $231.24. Asbury Automotive Group has a 52-week low of $178.40 and a 52-week high of $277.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45.

Insider Buying and Selling

In other news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the transaction, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently bought and sold shares of the business. Arizona State Retirement System raised its position in shares of Asbury Automotive Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH lifted its stake in Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after buying an additional 51 shares during the period. Janus Henderson Group PLC lifted its stake in Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after buying an additional 60 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Asbury Automotive Group by 0.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock worth $5,819,000 after buying an additional 62 shares during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of Asbury Automotive Group by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after buying an additional 66 shares during the period.

Asbury Automotive Group Company Profile

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.