Asbury Automotive Group (NYSE:ABG) Price Target Cut to $128.00 by Analysts at Morgan Stanley

Asbury Automotive Group (NYSE:ABGGet Rating) had its price target decreased by Morgan Stanley from $135.00 to $128.00 in a research report released on Tuesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other research firms have also recently commented on ABG. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $205.00 to $185.00 and set a neutral rating on the stock in a research note on Thursday, October 6th. StockNews.com upgraded shares of Asbury Automotive Group from a hold rating to a buy rating in a report on Tuesday, November 8th.

Asbury Automotive Group Stock Down 1.5 %

NYSE:ABG opened at $186.19 on Tuesday. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 5.30, a price-to-earnings-growth ratio of 0.34 and a beta of 1.14. Asbury Automotive Group has a one year low of $138.88 and a one year high of $203.92. The stock has a 50-day simple moving average of $178.14 and a 200 day simple moving average of $170.28. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.85 and a current ratio of 1.56.

Asbury Automotive Group (NYSE:ABGGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $9.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $0.04. Asbury Automotive Group had a return on equity of 34.33% and a net margin of 5.46%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $7.36 earnings per share. The business’s revenue was up 60.7% on a year-over-year basis. Sell-side analysts predict that Asbury Automotive Group will post 37.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Asbury Automotive Group

A number of hedge funds have recently modified their holdings of the company. Focused Wealth Management Inc purchased a new stake in Asbury Automotive Group during the second quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new position in shares of Asbury Automotive Group during the second quarter worth $38,000. Ronald Blue Trust Inc. lifted its position in Asbury Automotive Group by 305.0% during the third quarter. Ronald Blue Trust Inc. now owns 243 shares of the company’s stock valued at $41,000 after purchasing an additional 183 shares during the last quarter. Standard Family Office LLC bought a new position in Asbury Automotive Group during the third quarter valued at $52,000. Finally, Quadrant Capital Group LLC lifted its position in Asbury Automotive Group by 236.9% during the third quarter. Quadrant Capital Group LLC now owns 411 shares of the company’s stock valued at $62,000 after purchasing an additional 289 shares during the last quarter.

Asbury Automotive Group Company Profile

(Get Rating)

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.

See Also

Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.