Asbury Automotive Group (NYSE:ABG) Raised to Hold at UBS Group

Asbury Automotive Group (NYSE:ABG) was upgraded by analysts at UBS Group to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

ABG has been the subject of several other reports. Weiss Ratings lowered Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $220.00 price objective on Asbury Automotive Group in a report on Thursday, May 7th. Barclays lifted their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Bank of America assumed coverage on Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating for the company. Finally, Citigroup decreased their price objective 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 equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $233.50.

Asbury Automotive Group Trading Up 0.6%

Shares of Asbury Automotive Group stock opened at $195.08 on Wednesday. Asbury Automotive Group has a 1 year low of $172.01 and a 1 year high of $274.50. The firm has a market cap of $3.63 billion, a PE ratio of 6.91, a P/E/G ratio of 1.07 and a beta of 0.78. The stock has a fifty day moving average price of $195.90 and a 200-day moving average price of $218.03. 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 earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the business earned $6.82 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group will post 25.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director B. Christopher Disantis acquired 157 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $182.31 per share, with a total value of $28,622.67. Following the acquisition, the director owned 6,400 shares in the company, valued at $1,166,784. The trade was a 2.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ABG. Argent Capital Management LLC grew its holdings in Asbury Automotive Group by 54.6% during the 1st quarter. Argent Capital Management LLC now owns 6,301 shares of the company’s stock valued at $1,231,000 after buying an additional 2,226 shares in the last quarter. Edgestream Partners L.P. grew its holdings in Asbury Automotive Group by 10.2% during the 1st quarter. Edgestream Partners L.P. now owns 53,267 shares of the company’s stock valued at $10,409,000 after buying an additional 4,936 shares in the last quarter. Seven Six Capital Management LLC grew its holdings in Asbury Automotive Group by 17.0% during the 1st quarter. Seven Six Capital Management LLC now owns 26,158 shares of the company’s stock valued at $5,112,000 after buying an additional 3,800 shares in the last quarter. Amundi grew its holdings in Asbury Automotive Group by 60.4% during the 1st quarter. Amundi now owns 4,078 shares of the company’s stock valued at $797,000 after buying an additional 1,535 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Asbury Automotive Group by 25.3% during the 1st quarter. California State Teachers Retirement System now owns 22,051 shares of the company’s stock valued at $4,309,000 after buying an additional 4,449 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.