Asbury Automotive Group Inc (ABG) Stock Rating Reaffirmed by Craig Hallum
Craig Hallum reiterated their hold rating on shares of Asbury Automotive Group Inc (NYSE:ABG) in a report released on Wednesday morning, The Fly reports. The brokerage currently has a $55.00 price target on the stock, down from their previous price target of $65.00.
ABG has been the subject of a number of other reports. Zacks Investment Research lowered Asbury Automotive Group from a hold rating to a sell rating in a research report on Monday, July 3rd. Morgan Stanley decreased their price objective on Asbury Automotive Group from $56.00 to $53.00 and set an underweight rating for the company in a research report on Friday, June 9th. BidaskClub lowered Asbury Automotive Group from a hold rating to a sell rating in a research report on Saturday, June 24th. Deutsche Bank AG restated a hold rating and set a $60.00 price objective (down from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. Finally, ValuEngine lowered Asbury Automotive Group from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $57.80.
Asbury Automotive Group (NYSE ABG) opened at 55.20 on Wednesday. The stock’s 50 day moving average is $55.69 and its 200-day moving average is $60.04. Asbury Automotive Group has a 1-year low of $47.50 and a 1-year high of $71.00. The firm has a market cap of $1.15 billion, a P/E ratio of 7.18 and a beta of 1.44.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the Zacks’ 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. Analysts forecast that Asbury Automotive Group will post $6.37 EPS for the current year.
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In other news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $59.20, for a total transaction of $99,219.20. Following the completion of the sale, the director now directly owns 82,000 shares of the company’s stock, valued at approximately $4,854,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David W. Hult sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now directly owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The disclosure for this sale can be found here. Insiders have sold a total of 16,919 shares of company stock valued at $969,522 over the last ninety days. Company insiders own 11.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Asbury Automotive Group by 116,095.7% in the first quarter. BlackRock Inc. now owns 2,514,474 shares of the company’s stock worth $151,120,000 after buying an additional 2,512,310 shares during the period. FMR LLC purchased a new stake in Asbury Automotive Group during the first quarter worth $45,869,000. Neuberger Berman Group LLC increased its stake in Asbury Automotive Group by 42.2% in the first quarter. Neuberger Berman Group LLC now owns 1,446,088 shares of the company’s stock worth $86,910,000 after buying an additional 429,046 shares during the period. Prudential Financial Inc. increased its stake in Asbury Automotive Group by 304.9% in the first quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock worth $31,352,000 after buying an additional 392,811 shares during the period. Finally, River Road Asset Management LLC purchased a new stake in Asbury Automotive Group during the first quarter worth $21,387,000. 99.89% of the stock is owned by institutional investors.
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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