Asbury Automotive Group (NYSE:ABG) Price Target Raised to $204.00

Asbury Automotive Group (NYSE:ABG) had its price objective increased by UBS Group from $193.00 to $204.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

ABG has been the subject of a number of other reports. Zacks Research cut Asbury Automotive Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Craig Hallum upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Tuesday. Morgan Stanley lowered their target price on shares of Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating for the company in a research note on Monday, October 5th. Bank of America reaffirmed a “buy” rating and issued a $232.00 target price on shares of Asbury Automotive Group in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Thursday, October 22nd. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $220.88.

Asbury Automotive Group Trading Down 0.8%

NYSE ABG opened at $197.75 on Wednesday. The stock has a 50-day simple moving average of $188.97 and a 200 day simple moving average of $204.41. The company has a market capitalization of $3.55 billion, a PE ratio of 7.96, a P/E/G ratio of 1.41 and a beta of 0.78. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77. Asbury Automotive Group has a 12 month low of $160.30 and a 12 month high of $258.74.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share for the quarter, missing the consensus estimate of $6.42 by ($0.26). Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.94%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the company posted $7.17 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Research analysts forecast that Asbury Automotive Group will post 25.18 EPS for the current year.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $34,000. Allworth Financial LP bought a new stake in shares of Asbury Automotive Group during the second quarter worth $36,000. Daytona Street Capital LLC bought a new stake in shares of Asbury Automotive Group during the third quarter worth $32,000. USA Financial Formulas acquired a new stake in shares of Asbury Automotive Group during the third quarter worth $39,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Asbury Automotive Group by 163.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 321 shares of the company’s stock worth $75,000 after acquiring an additional 199 shares during the period.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that operates franchised and independent dealerships. Its dealerships sell new and used vehicles from a range of domestic, import and luxury automobile brands, and provide related services throughout the vehicle ownership cycle.

The company’s operations include automotive repair and maintenance, parts and accessories, collision repair, vehicle financing and insurance products, and other dealership services. Asbury also supports vehicle sales and service through digital retailing and online customer tools.

Founded in 1995, Asbury has expanded through acquisitions and serves customers across multiple markets in the United States.