Asbury Automotive Group (NYSE:ABG) PT Lowered to $305.00 at Bank of America

Asbury Automotive Group (NYSE:ABG) had its price target decreased by Bank of America from $310.00 to $305.00 in a research report report published on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

ABG has been the topic of several other reports. StockNews.com cut Asbury Automotive Group from a hold rating to a sell rating in a report on Monday, August 12th. Stephens started coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an equal weight rating and a $216.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a neutral rating in a report on Tuesday, September 10th. Finally, Morgan Stanley upgraded 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group presently has a consensus rating of Hold and an average price target of $251.20.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $225.65 on Monday. The stock has a 50-day simple moving average of $230.07 and a two-hundred day simple moving average of $231.20. The firm has a market capitalization of $4.55 billion, a P/E ratio of 8.22 and a beta of 1.16. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm earned $8.95 EPS. Asbury Automotive Group’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Asbury Automotive Group will post 26.01 earnings per share for the current year.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Hult sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. The trade was 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 insiders.

Institutional Trading of Asbury Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Asbury Automotive Group in the second quarter valued at approximately $38,000. GAMMA Investing LLC increased its position in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after acquiring an additional 146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group during the second quarter worth $155,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Asbury Automotive Group during the fourth quarter worth $162,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Asbury Automotive Group during the second quarter worth $190,000.

About Asbury Automotive Group

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.