Citigroup Lowers Asbury Automotive Group (NYSE:ABG) Price Target to $212.00

Asbury Automotive Group (NYSE:ABG) had its price objective decreased by research analysts at Citigroup from $260.00 to $212.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 4.75% from the company’s previous close.

Several other research analysts also recently commented on the company. Weiss Ratings downgraded Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Bank of America assumed coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Stephens reduced their target price on Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays boosted their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Asbury Automotive Group from $235.00 to $240.00 and gave the stock an “underweight” rating in a report on Friday, March 20th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $242.29.

Asbury Automotive Group Trading Up 0.9%

ABG stock opened at $202.40 on Wednesday. Asbury Automotive Group has a 1-year low of $184.61 and a 1-year high of $274.50. The firm has a market cap of $3.91 billion, a P/E ratio of 8.07 and a beta of 0.80. The business’s 50 day moving average is $209.70 and its 200-day moving average is $228.53. The company has a current ratio of 0.95, a quick ratio of 0.35 and a debt-to-equity ratio of 0.79.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.26 earnings per share. Equities analysts anticipate that Asbury Automotive Group will post 26.28 earnings per share for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis acquired 500 shares of Asbury Automotive Group stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, with a total value of $101,150.00. Following the acquisition, the director owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ABG. Los Angeles Capital Management LLC acquired a new position in Asbury Automotive Group during the 4th quarter worth $25,000. Torren Management LLC acquired a new position in Asbury Automotive Group during the 4th quarter worth $27,000. Quarry LP lifted its holdings in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after buying an additional 83 shares in the last quarter. Bogart Wealth LLC lifted its holdings in Asbury Automotive Group by 52.4% during the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after buying an additional 44 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in 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 buying an additional 54 shares in the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.