Asbury Automotive Group (NYSE:ABG) Given New $335.00 Price Target at Bank of America

Asbury Automotive Group (NYSE:ABG) had its target price upped by Bank of America from $325.00 to $335.00 in a report released on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages also recently weighed in on ABG. Citigroup began coverage on Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Wall Street Zen raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $263.50.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $239.71 on Monday. The firm has a 50 day moving average of $227.73 and a 200 day moving average of $245.75. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.14 and a beta of 0.96. Asbury Automotive Group has a 52 week low of $201.68 and a 52 week high of $312.56.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $7.21 EPS. On average, sell-side analysts predict that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its stake in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after purchasing an additional 41 shares during the period. Bank of Montreal Can increased its holdings in Asbury Automotive Group by 2.0% in the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company’s stock valued at $608,000 after buying an additional 48 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after acquiring an additional 50 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Asbury Automotive Group by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,074 shares of the company’s stock worth $900,000 after acquiring an additional 51 shares during the period. Finally, Choreo LLC boosted its stake in shares of Asbury Automotive Group by 1.7% during the 1st quarter. Choreo LLC now owns 3,094 shares of the company’s stock worth $683,000 after acquiring an additional 53 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.