Bank of America lowered shares of Asbury Automotive Group (NYSE:ABG) from a buy rating to a neutral rating in a report issued on Friday, BenzingaRatingsTable reports.

Several other brokerages have also commented on ABG. Craig Hallum upped their price target on shares of Asbury Automotive Group from $90.00 to $110.00 and gave the stock a buy rating in a research report on Monday, July 29th. Morgan Stanley increased their price objective on shares of Asbury Automotive Group from $86.00 to $95.00 and gave the stock an equal weight rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Asbury Automotive Group from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Tuesday, July 9th. Zacks Investment Research raised shares of Asbury Automotive Group from a hold rating to a buy rating and set a $103.00 price objective for the company in a research report on Thursday, August 1st. Finally, ValuEngine lowered shares of Asbury Automotive Group from a buy rating to a hold rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $90.00.

Shares of ABG stock opened at $99.10 on Friday. Asbury Automotive Group has a one year low of $58.60 and a one year high of $103.92. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.34 and a current ratio of 1.20. The company has a 50 day moving average price of $93.36 and a 200 day moving average price of $81.29. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Asbury Automotive Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Asbury Automotive Group will post 9.31 EPS for the current fiscal year.

In related news, SVP Jed Milstein sold 900 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $92.52, for a total transaction of $83,268.00. Following the completion of the sale, the senior vice president now directly owns 10,374 shares of the company’s stock, valued at approximately $959,802.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas C. Deloach, Jr. sold 8,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $91.71, for a total transaction of $733,680.00. Following the sale, the director now directly owns 17,703 shares of the company’s stock, valued at $1,623,542.13. The disclosure for this sale can be found here. Insiders sold 12,324 shares of company stock valued at $1,129,466 in the last three months. Company insiders own 1.36% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABG. BNP Paribas Arbitrage SA grew its holdings in Asbury Automotive Group by 251.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,638 shares of the company’s stock valued at $391,000 after purchasing an additional 4,032 shares in the last quarter. Bank of Montreal Can grew its holdings in Asbury Automotive Group by 26.1% during the 1st quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock valued at $71,000 after purchasing an additional 209 shares in the last quarter. Rhumbline Advisers grew its holdings in Asbury Automotive Group by 1.0% during the 1st quarter. Rhumbline Advisers now owns 60,910 shares of the company’s stock valued at $4,225,000 after purchasing an additional 612 shares in the last quarter. Comerica Bank grew its holdings in Asbury Automotive Group by 1.5% during the 1st quarter. Comerica Bank now owns 19,385 shares of the company’s stock valued at $1,408,000 after purchasing an additional 286 shares in the last quarter. Finally, Texas Permanent School Fund grew its holdings in Asbury Automotive Group by 3.2% during the 1st quarter. Texas Permanent School Fund now owns 13,240 shares of the company’s stock valued at $918,000 after purchasing an additional 413 shares in the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.

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Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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