Asbury Automotive Group (NYSE:ABG) Stock Price Expected to Rise, Barclays Analyst Says

Asbury Automotive Group (NYSE:ABG) had its target price raised by research analysts at Barclays from $230.00 to $235.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 20.11% from the stock’s current price.

Several other equities analysts have also weighed in on ABG. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a report on Monday, December 8th. Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the stock an “underweight” rating in a research note on Friday, March 20th. Finally, Bank of America began coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $249.00.

Asbury Automotive Group Stock Up 0.1%

Shares of NYSE:ABG traded up $0.26 during midday trading on Tuesday, hitting $195.66. 45,680 shares of the company’s stock traded hands, compared to its average volume of 216,906. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.35 and a current ratio of 0.95. The company has a market cap of $3.78 billion, a PE ratio of 7.80 and a beta of 0.80. The firm’s fifty day moving average price is $212.18 and its two-hundred day moving average price is $229.23. Asbury Automotive Group has a twelve month low of $184.61 and a twelve month high of $274.50.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share for the quarter, missing the consensus estimate of $6.70 by ($0.03). The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.26 EPS. On average, equities research analysts anticipate that Asbury Automotive Group will post 26.28 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other news, Director B. Christopher Disantis purchased 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, with a total value of $101,150.00. Following the purchase, the director directly owned 5,400 shares of the company’s stock, valued at approximately $1,092,420. This represents a 10.20% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of Asbury Automotive Group by 261.7% in the 3rd quarter. American Century Companies Inc. now owns 159,645 shares of the company’s stock worth $39,025,000 after purchasing an additional 115,504 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Asbury Automotive Group by 631.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,036 shares of the company’s stock worth $1,720,000 after purchasing an additional 6,074 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Asbury Automotive Group by 1,570.2% in the 4th quarter. SG Americas Securities LLC now owns 9,086 shares of the company’s stock worth $2,113,000 after purchasing an additional 8,542 shares during the last quarter. Magnolia Group LLC increased its position in shares of Asbury Automotive Group by 18.7% in the 3rd quarter. Magnolia Group LLC now owns 282,623 shares of the company’s stock worth $69,087,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Asbury Automotive Group by 14.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 76,656 shares of the company’s stock worth $18,739,000 after purchasing an additional 9,632 shares during the last quarter.

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.