Asbury Automotive Group (NYSE:ABG) Announces Quarterly Earnings Results

Asbury Automotive Group (NYSE:ABG) posted its quarterly earnings results on Thursday. The company reported $7.26 earnings per share for the quarter, topping analysts’ consensus estimates of $6.04 by $1.22, Zacks reports. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%.

Asbury Automotive Group Trading Up 9.3 %

Shares of ABG traded up $25.60 during trading hours on Thursday, hitting $299.91. The company had a trading volume of 215,767 shares, compared to its average volume of 175,920. Asbury Automotive Group has a 52-week low of $195.09 and a 52-week high of $307.69. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $252.52 and its 200 day moving average price is $242.52. The firm has a market cap of $5.88 billion, a P/E ratio of 16.99 and a beta of 1.19.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ABG shares. Craig Hallum upped their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Bank of America cut their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.20.

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.