Asbury Automotive Group, Inc. (NYSE:ABG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have earned an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $238.00.

ABG has been the subject of a number of analyst reports. Bank of America initiated coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a “buy” rating for the company. Citigroup reduced their price target on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings cut Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Barclays boosted their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Finally, Morgan Stanley set a $220.00 price objective on Asbury Automotive Group in a research report on Thursday, May 7th.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $179.26 on Tuesday. Asbury Automotive Group has a fifty-two week low of $179.12 and a fifty-two week high of $274.50. The business has a 50-day moving average of $198.17 and a two-hundred day moving average of $221.10. The stock has a market capitalization of $3.34 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the firm earned $6.82 EPS. Asbury Automotive Group’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that Asbury Automotive Group will post 25.74 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director owned 5,400 shares of the company’s stock, valued at approximately $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in the business. Inceptionr LLC acquired a new position in shares of Asbury Automotive Group during the 1st quarter worth about $335,000. Cetera Investment Advisers raised its holdings in Asbury Automotive Group by 24.7% in the 1st quarter. Cetera Investment Advisers now owns 1,994 shares of the company’s stock valued at $390,000 after acquiring an additional 395 shares in the last quarter. First Trust Advisors LP raised its holdings in Asbury Automotive Group by 7.5% in the 1st quarter. First Trust Advisors LP now owns 28,582 shares of the company’s stock valued at $5,585,000 after acquiring an additional 2,001 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Asbury Automotive Group by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after acquiring an additional 34,104 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Asbury Automotive Group by 8.1% in the 1st quarter. California Public Employees Retirement System now owns 36,564 shares of the company’s stock valued at $7,145,000 after acquiring an additional 2,748 shares in the last quarter.

About Asbury Automotive Group

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.