Asbury Automotive Group, Inc. (NYSE:ABG) Given Consensus Rating of “Hold” by Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $250.4286.

Several equities analysts have recently issued reports on ABG shares. JPMorgan Chase & Co. upped their price target on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a research note on Monday, December 8th. Barclays dropped their price target on Asbury Automotive Group from $251.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 21st. Zacks Research lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Asbury Automotive Group in a report on Monday, December 29th.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Asbury Automotive Group in the second quarter valued at about $77,544,000. Eminence Capital LP grew its holdings in shares of Asbury Automotive Group by 36.0% during the second quarter. Eminence Capital LP now owns 1,002,160 shares of the company’s stock worth $239,055,000 after buying an additional 265,539 shares in the last quarter. Woodline Partners LP acquired a new stake in Asbury Automotive Group in the 3rd quarter valued at approximately $32,684,000. Thrivent Financial for Lutherans lifted its stake in Asbury Automotive Group by 545.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 143,388 shares of the company’s stock valued at $35,051,000 after acquiring an additional 121,183 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Asbury Automotive Group by 261.7% during the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after acquiring an additional 115,504 shares during the last quarter.

Asbury Automotive Group Trading Down 1.1%

ABG opened at $234.52 on Friday. Asbury Automotive Group has a 1-year low of $201.68 and a 1-year high of $309.99. The stock has a market capitalization of $4.56 billion, a PE ratio of 8.22 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $240.29 and a two-hundred day moving average price of $239.19.

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.