Brokerages Set Asbury Automotive Group, Inc. (NYSE:ABG) Price Target at $256.20

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $256.20.

A number of research analysts recently weighed in on the company. Craig Hallum upped their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Bank of America lowered their price target on shares of 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. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Stephens assumed coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company.

Asbury Automotive Group Stock Up 0.2 %

Shares of NYSE:ABG opened at $260.45 on Friday. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 14.74 and a beta of 1.16. The firm’s 50-day simple moving average is $230.42 and its 200-day simple moving average is $232.92. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a fifty-two week low of $195.09 and a fifty-two week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $8.12 EPS. As a group, equities research analysts predict that Asbury Automotive Group will post 25.44 earnings per share for the current year.

Insider Buying and Selling

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 sale, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Hult sold 500 shares of the stock in a transaction 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 sale, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

A number of large investors have recently bought and sold shares of ABG. Assenagon Asset Management S.A. grew its holdings in Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after buying an additional 148,910 shares during the last quarter. Eminence Capital LP lifted its stake in shares of Asbury Automotive Group by 41.5% during the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock worth $113,603,000 after purchasing an additional 146,246 shares during the period. Natixis Advisors LLC acquired a new stake in shares of Asbury Automotive Group during the third quarter worth $26,573,000. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 7.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after purchasing an additional 69,975 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Asbury Automotive Group in the third quarter valued at $154,270,000.

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.