Asbury Automotive Group Inc (NYSE:ABG) Given Hold Rating at Deutsche Bank AG
Deutsche Bank AG reaffirmed their hold rating on shares of Asbury Automotive Group Inc (NYSE:ABG) in a research note issued to investors on Wednesday. They currently have a $58.00 price target on the stock, down from their prior price target of $60.00.
ABG has been the topic of a number of other reports. BidaskClub downgraded shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Saturday, June 24th. Craig Hallum reiterated a hold rating and issued a $55.00 price target (down from $65.00) on shares of Asbury Automotive Group in a report on Wednesday. ValuEngine downgraded shares of Asbury Automotive Group from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Monday, July 3rd. Finally, Jefferies Group LLC restated a neutral rating on shares of Asbury Automotive Group in a report on Friday, June 2nd. Two investment 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’s stock. The company has a consensus rating of Hold and an average price target of $57.80.
Asbury Automotive Group (NYSE:ABG) opened at 55.20 on Wednesday. Asbury Automotive Group has a 12 month low of $47.50 and a 12 month high of $71.00. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 7.18 and a beta of 1.44. The company has a 50-day moving average of $55.69 and a 200 day moving average of $60.04.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, equities research analysts anticipate that Asbury Automotive Group will post $6.37 earnings per share for the current fiscal year.
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In other news, SVP George Karolis sold 2,743 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $55.98, for a total value of $153,553.14. Following the sale, the senior vice president now directly owns 5,083 shares in the company, valued at approximately $284,546.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David W. Hult sold 12,500 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $57.34, for a total transaction of $716,750.00. Following the completion of the sale, the chief operating officer now owns 41,911 shares in the company, valued at $2,403,176.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,919 shares of company stock worth $969,522. Insiders own 11.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of ABG. Ameritas Investment Partners Inc. acquired a new stake in Asbury Automotive Group during the first quarter worth $104,000. Victory Capital Management Inc. increased its stake in Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after buying an additional 587 shares during the period. Public Employees Retirement System of Ohio increased its stake in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after buying an additional 132 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in Asbury Automotive Group during the first quarter worth $210,000. Finally, State of Alaska Department of Revenue increased its stake in Asbury Automotive Group by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock worth $210,000 after buying an additional 1,634 shares during the period. Hedge funds and other institutional investors own 99.89% of the company’s stock.
Asbury Automotive Group Company Profile
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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