Asbury Automotive Group (NYSE:ABG) Given New $230.00 Price Target at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its target price lifted by JPMorgan Chase & Co. from $220.00 to $230.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research firms have also weighed in on ABG. Citigroup reiterated a “neutral” rating on shares of Asbury Automotive Group in a research note on Thursday, September 25th. Bank of America decreased their target price on shares of Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Asbury Automotive Group in a report on Wednesday, October 8th. Finally, Morgan Stanley increased their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $251.14.

Asbury Automotive Group Stock Up 3.1%

Shares of Asbury Automotive Group stock opened at $246.88 on Tuesday. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a fifty day moving average price of $244.71 and a 200 day moving average price of $236.39.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, topping analysts’ consensus estimates of $6.82 by $0.61. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.40 EPS. Equities research analysts forecast that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, SVP Jed Milstein sold 1,132 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total value of $286,690.32. Following the completion of the sale, the senior vice president owned 11,267 shares in the company, valued at approximately $2,853,480.42. This represents a 9.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maureen F. Morrison sold 800 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $255.61, for a total transaction of $204,488.00. Following the completion of the sale, the director owned 5,824 shares of the company’s stock, valued at approximately $1,488,672.64. The trade was a 12.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,957 shares of company stock valued at $745,501. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in shares of Asbury Automotive Group by 69.2% during the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after purchasing an additional 54 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Asbury Automotive Group during the 1st quarter worth $49,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Asbury Automotive Group by 64.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock worth $49,000 after purchasing an additional 81 shares during the last quarter. eCIO Inc. acquired a new position in shares of Asbury Automotive Group during the 1st quarter worth $56,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Asbury Automotive Group by 104.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company’s stock worth $80,000 after purchasing an additional 172 shares during the last quarter.

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.