Zacks Investment Research upgraded shares of Asbury Automotive Group Inc (NYSE:ABG) from a sell rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “

ABG has been the topic of several other reports. Jefferies Group LLC reissued a hold rating and issued a $61.00 target price (down from $68.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Deutsche Bank AG reissued a hold rating and issued a $58.00 target price (down from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. BidaskClub cut shares of Asbury Automotive Group from a hold rating to a sell rating in a research report on Saturday, June 24th. Craig Hallum reissued a hold rating and issued a $55.00 target price (down from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, TheStreet raised shares of Asbury Automotive Group from a c+ rating to a b- rating in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $56.75.

Asbury Automotive Group (ABG) opened at 55.05 on Tuesday. The firm has a 50-day moving average of $58.51 and a 200 day moving average of $56.66. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 7.16 and a beta of 1.45. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.09). Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Asbury Automotive Group’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Asbury Automotive Group will post $6.30 EPS for the current year.

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In other Asbury Automotive Group news, Director Dennis E. Clements sold 5,000 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the transaction, the director now directly owns 20,531 shares of the company’s stock, valued at $1,204,348.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Msd Capital L. P sold 104,949 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. Insiders sold 110,444 shares of company stock worth $5,700,889 over the last three months. Corporate insiders own 11.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ABG. Ameritas Investment Partners Inc. acquired a new position in Asbury Automotive Group during the first quarter valued at approximately $104,000. Victory Capital Management Inc. lifted its position in Asbury Automotive Group by 45.6% during the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock valued at $113,000 after buying an additional 587 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Asbury Automotive Group by 4.1% during the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after buying an additional 132 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Asbury Automotive Group during the first quarter valued at approximately $210,000. Finally, State of Alaska Department of Revenue lifted its position in Asbury Automotive Group by 78.6% during the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock valued at $210,000 after buying an additional 1,634 shares in the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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