Asbury Automotive Group, Inc. (NYSE:ABG) Given Average Rating of “Hold” by Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $256.20.

Several research firms recently weighed in on ABG. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Stephens started coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Asbury Automotive Group by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock worth $45,065,000 after purchasing an additional 7,754 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Asbury Automotive Group by 21.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,304 shares of the company’s stock worth $981,000 after acquiring an additional 753 shares during the period. Hantz Financial Services Inc. acquired a new position in Asbury Automotive Group in the 2nd quarter valued at $376,000. Victory Capital Management Inc. lifted its position in shares of Asbury Automotive Group by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 19,928 shares of the company’s stock valued at $4,541,000 after acquiring an additional 448 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Asbury Automotive Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after purchasing an additional 51 shares in the last quarter.

Asbury Automotive Group Trading Up 0.0 %

Shares of NYSE:ABG opened at $243.03 on Friday. The company’s 50-day moving average price is $250.89 and its two-hundred day moving average price is $239.64. Asbury Automotive Group has a one year low of $195.09 and a one year high of $277.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The stock has a market capitalization of $4.76 billion, a PE ratio of 13.75 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly 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). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted $8.12 earnings per share. On average, equities analysts forecast that Asbury Automotive Group will post 25.17 EPS for the current fiscal year.

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.