StockNews.com Upgrades Asbury Automotive Group (NYSE:ABG) to Hold

Asbury Automotive Group (NYSE:ABG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

ABG has been the topic of a number of other reports. Stephens began coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Bank of America cut their target price 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. Craig Hallum upped 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 note on Wednesday. Finally, Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $257.20.

Asbury Automotive Group Price Performance

ABG stock traded down $5.03 during midday trading on Thursday, hitting $228.00. The company’s stock had a trading volume of 149,603 shares, compared to its average volume of 184,877. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. Asbury Automotive Group has a 12 month low of $186.29 and a 12 month high of $277.13. The company has a 50 day moving average of $229.84 and a two-hundred day moving average of $231.41. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 8.31 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $8.12 earnings per share. On average, analysts expect that Asbury Automotive Group will post 26.01 EPS for the current year.

Insider Buying and Selling

In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the company’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 transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Several hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group in the 3rd quarter worth about $31,000. Quarry LP bought a new position in Asbury Automotive Group in the second quarter worth approximately $38,000. GAMMA Investing LLC grew its stake in Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Asbury Automotive Group during the 2nd quarter worth $155,000. Finally, Headlands Technologies LLC bought a new stake in Asbury Automotive Group during the 2nd quarter valued at $190,000.

About Asbury Automotive Group

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.