Brokerages Set Asbury Automotive Group, Inc. (NYSE:ABG) Target Price at $255.20

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $255.20.

ABG has been the topic of a number of research analyst reports. Bank of America cut their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Trading of Asbury Automotive Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. SkyView Investment Advisors LLC boosted its stake in shares of Asbury Automotive Group by 2.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock worth $506,000 after purchasing an additional 50 shares during the last quarter. HighTower Advisors LLC boosted its position in Asbury Automotive Group by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock worth $409,000 after acquiring an additional 53 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Asbury Automotive Group by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock worth $440,000 after acquiring an additional 57 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Asbury Automotive Group by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company’s stock valued at $2,690,000 after acquiring an additional 99 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Asbury Automotive Group by 2.6% during the 3rd quarter. US Bancorp DE now owns 3,851 shares of the company’s stock worth $919,000 after purchasing an additional 99 shares during the period.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $260.90 on Wednesday. The business has a 50-day simple moving average of $251.26 and a 200-day simple moving average of $241.92. The company has a market cap of $5.11 billion, a PE ratio of 14.76 and a beta of 1.19. Asbury Automotive Group has a one year low of $195.09 and a one year high of $277.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.12 EPS. On average, equities research analysts forecast that Asbury Automotive Group will post 25.16 EPS for the current fiscal year.

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.