Asbury Automotive Group (NYSE:ABG) Price Target Lowered to $220.00 at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $235.00 to $220.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 10.02% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Stephens dropped their target price on shares of Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings downgraded shares of Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Morgan Stanley set a $220.00 target price on shares of Asbury Automotive Group in a research note on Thursday. Bank of America began coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. Finally, Citigroup cut their price target on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $238.00.

Asbury Automotive Group Stock Performance

NYSE:ABG traded up $2.27 during mid-day trading on Thursday, hitting $199.97. 133,894 shares of the company’s stock traded hands, compared to its average volume of 240,605. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The firm has a 50 day moving average of $201.11 and a two-hundred day moving average of $223.47. The company has a current ratio of 0.94, a quick ratio of 0.35 and a debt-to-equity ratio of 0.78. Asbury Automotive Group has a 12 month low of $184.61 and a 12 month high of $274.50.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 EPS for the quarter, missing the consensus estimate 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 business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the firm earned $6.82 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts forecast that Asbury Automotive Group will post 26.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director B. Christopher Disantis purchased 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $202.30 per share, with a total value of $101,150.00. Following the purchase, the director directly owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Asbury Automotive Group

Several institutional investors have recently bought and sold shares of ABG. AQR Capital Management LLC boosted its stake in Asbury Automotive Group by 11.0% in the 1st quarter. AQR Capital Management LLC now owns 6,263 shares of the company’s stock valued at $1,383,000 after buying an additional 619 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock valued at $61,561,000 after buying an additional 91,767 shares in the last quarter. United Services Automobile Association acquired a new stake in Asbury Automotive Group during the 1st quarter valued at $265,000. Empowered Funds LLC raised its position in Asbury Automotive Group by 11.4% in the 1st quarter. Empowered Funds LLC now owns 7,639 shares of the company’s stock valued at $1,687,000 after purchasing an additional 783 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Asbury Automotive Group by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,239 shares of the company’s stock valued at $11,316,000 after purchasing an additional 1,676 shares during 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.