Asbury Automotive Group (NYSE:ABG) Cut to “Hold” at Seaport Res Ptn

Asbury Automotive Group (NYSE:ABG) was downgraded by research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s FY2024 earnings at $26.14 EPS and FY2025 earnings at $25.45 EPS.

Several other equities research analysts have also weighed in on ABG. Stephens began coverage on Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company. Craig Hallum boosted their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Trading Down 2.6 %

NYSE ABG opened at $258.74 on Monday. The company has a market capitalization of $5.07 billion, a PE ratio of 14.64 and a beta of 1.16. Asbury Automotive Group has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm’s fifty day simple moving average is $231.24 and its 200-day simple moving average is $233.52.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the firm earned $8.12 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Asbury Automotive Group will post 25.44 earnings per share for the current fiscal year.

Institutional Trading of Asbury Automotive Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in Asbury Automotive Group by 1.0% during the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after acquiring an additional 51 shares during the period. Oak Associates Ltd. OH raised its stake in shares of Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after purchasing an additional 51 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 3.2% in the third quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock valued at $440,000 after purchasing an additional 57 shares in the last quarter. Janus Henderson Group PLC lifted its position in Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after purchasing an additional 60 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in Asbury Automotive Group by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after buying an additional 66 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.