JPMorgan Chase & Co. Boosts Asbury Automotive Group (NYSE:ABG) Price Target to $265.00

Asbury Automotive Group (NYSE:ABG) had its target price raised by JPMorgan Chase & Co. from $230.00 to $265.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the stock an underweight rating in a report on Wednesday, August 14th. StockNews.com cut Asbury Automotive Group from a hold rating to a sell rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $225.25.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $212.93 on Tuesday. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 7.76 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. Asbury Automotive Group has a 1-year low of $178.40 and a 1-year high of $277.13. The business has a 50-day moving average of $238.20 and a 200-day moving average of $228.86.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the business earned $8.95 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Asbury Automotive Group will post 27.06 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares in the company, valued at $12,911,548.12. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC acquired a new stake in Asbury Automotive Group in the fourth quarter worth $28,000. AXS Investments LLC acquired a new stake in shares of Asbury Automotive Group in the 4th quarter worth about $38,000. Quarry LP bought a new stake in Asbury Automotive Group in the 2nd quarter valued at about $38,000. GAMMA Investing LLC boosted its stake in Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Asbury Automotive Group in the 2nd quarter worth about $155,000.

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.