Asbury Automotive Group (NYSE:ABG) Upgraded at StockNews.com

StockNews.com upgraded shares of Asbury Automotive Group (NYSE:ABG) from a sell rating to a hold rating in a report published on Thursday morning.

A number of other research firms also recently commented on ABG. Bank of America dropped their price objective 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. Stephens assumed coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target on the stock. Craig Hallum raised their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of 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 shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $257.20.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $227.98 on Thursday. The firm has a market capitalization of $4.56 billion, a PE ratio of 12.90 and a beta of 1.16. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $229.51 and a 200 day moving average price of $231.47. 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 posted its quarterly earnings data 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 net margin of 2.16% and a return on equity of 16.58%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the business earned $8.12 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that Asbury Automotive Group will post 25.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asbury Automotive Group news, 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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

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

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.