Stephens Reaffirms “Overweight” Rating for Asbury Automotive Group (NYSE:ABG)

Asbury Automotive Group (NYSE:ABG)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $242.00 target price on the stock. Stephens’ price objective would suggest a potential upside of 29.63% from the stock’s current price.

ABG has been the topic of a number of other research reports. Barclays lifted their price target on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Citigroup decreased their price target on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Bank of America began coverage on shares of Asbury Automotive Group in a report on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Morgan Stanley set a $220.00 price target on shares of Asbury Automotive Group in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $232.00.

Asbury Automotive Group Trading Down 0.5%

NYSE ABG opened at $186.68 on Tuesday. The company has a market cap of $3.48 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.04 and a beta of 0.78. Asbury Automotive Group has a 12 month low of $172.01 and a 12 month high of $274.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.29. The company has a 50-day moving average of $195.81 and a 200-day moving average of $217.57.

Asbury Automotive Group (NYSE:ABG) last released 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 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 business posted $6.82 earnings per share. Asbury Automotive Group’s revenue was down .9% on a year-over-year basis. As a group, equities analysts predict that Asbury Automotive Group will post 25.68 earnings per share for the current year.

Insider Buying and Selling

In other news, Director B. Christopher Disantis purchased 157 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the purchase, the director directly owned 6,400 shares of the company’s stock, valued at $1,166,784. The trade was a 2.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $27,000. Quarry LP grew its stake in shares of Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after buying an additional 83 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after buying an additional 44 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after buying an additional 54 shares in the last quarter.

Asbury Automotive Group Company Profile

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.