Stephens Has Lowered Expectations for Asbury Automotive Group (NYSE:ABG) Stock Price

Asbury Automotive Group (NYSE:ABG) had its price target dropped by equities research analysts at Stephens from $277.00 to $254.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Stephens’ target price suggests a potential upside of 25.50% from the company’s current price.

A number of other brokerages have also weighed in on ABG. 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 research report on Tuesday. Bank of America began coverage on shares of Asbury Automotive Group in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the company an “underweight” rating in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Asbury Automotive Group presently has an average rating of “Hold” and an average target price of $242.29.

Asbury Automotive Group Stock Performance

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

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

Insider Activity at Asbury Automotive Group

In related news, Director B. Christopher Disantis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $202.30 per share, for a total transaction of $101,150.00. Following the purchase, the director owned 5,400 shares in the company, valued at $1,092,420. The trade was a 10.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABG. Los Angeles Capital Management LLC bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at approximately $27,000. Quarry LP grew its stake in shares of Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares during the period. Bogart Wealth LLC grew its stake in shares of Asbury Automotive Group by 52.4% during the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Finally, Osaic Holdings Inc. grew 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 valued at $31,000 after acquiring an additional 54 shares during the period.

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.