Asbury Automotive Group, Inc. (NYSE:ABG) Receives Consensus Rating of “Hold” from Analysts

Asbury Automotive Group, Inc. (NYSE:ABG) has been assigned an average rating of “Hold” from the six analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $256.20.

Several research firms have recently commented on ABG. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum lifted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America cut their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th.

Asbury Automotive Group Trading Down 1.9 %

Shares of ABG opened at $244.53 on Friday. The stock has a fifty day moving average price of $249.82 and a two-hundred day moving average price of $239.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 13.84 and a beta of 1.18. Asbury Automotive Group has a 52-week low of $195.09 and a 52-week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company earned $8.12 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts predict that Asbury Automotive Group will post 25.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors have recently modified their holdings of ABG. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $31,000. Quarry LP bought a new position in Asbury Automotive Group during the second quarter worth about $38,000. GAMMA Investing LLC lifted its holdings in Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group in the second quarter valued at about $155,000. Finally, Headlands Technologies LLC bought a new stake in shares of Asbury Automotive Group in the second quarter worth about $190,000.

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.