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

Asbury Automotive Group, Inc. (NYSE:ABG) has been assigned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $264.00.

A number of brokerages recently weighed in on ABG. Craig Hallum cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $235.11 on Thursday. The company has a market cap of $4.62 billion, a PE ratio of 10.93 and a beta of 1.22. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $268.34 and a 200-day moving average price of $250.64. Asbury Automotive Group has a 12-month low of $206.62 and a 12-month high of $312.56.

Insiders Place Their Bets

In related news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ABG. Aster Capital Management DIFC Ltd bought a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $25,000. CIBC Private Wealth Group LLC grew its stake in Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after purchasing an additional 41 shares during the period. Smartleaf Asset Management LLC grew its stake in Asbury Automotive Group by 234.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares during the period. Headlands Technologies LLC grew its stake in Asbury Automotive Group by 275.2% in the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after purchasing an additional 443 shares during the period. Finally, Sterling Capital Management LLC grew its stake in Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock worth $153,000 after purchasing an additional 561 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.