Asbury Automotive Group (NYSE:ABG) Reaches New 12-Month Low Following Weak Earnings

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $204.57 and last traded at $219.10, with a volume of 505308 shares traded. The stock had previously closed at $216.26.

The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company earned $7.21 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on ABG. Citigroup started coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 price objective for the company. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Stephens boosted 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. Finally, JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $258.50.

Insider Activity at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the business’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 sale, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company’s stock valued at $269,322,000 after buying an additional 9,688 shares during the last quarter. Eminence Capital LP grew its stake in Asbury Automotive Group by 15.8% during the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after buying an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL increased its position in Asbury Automotive Group by 0.5% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company’s stock worth $172,035,000 after buying an additional 3,490 shares during the period. Madison Investment Advisors LLC purchased a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $82,426,000. Finally, Norges Bank acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $82,079,000.

Asbury Automotive Group Trading Up 0.2 %

The business’s 50-day moving average price is $232.82 and its 200-day moving average price is $249.13. The firm has a market capitalization of $4.30 billion, a PE ratio of 10.16 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

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.