Stephens Forecasts Strong Price Appreciation for Asbury Automotive Group (NYSE:ABG) Stock

Asbury Automotive Group (NYSE:ABG) had its price target boosted by equities researchers at Stephens from $220.00 to $260.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ target price suggests a potential downside of 13.59% from the company’s previous close.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Craig Hallum upgraded shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $264.00.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $300.90 on Tuesday. 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 has a 50-day moving average of $259.64 and a 200-day moving average of $245.83. The firm has a market cap of $5.89 billion, a P/E ratio of 13.99 and a beta of 1.20. Asbury Automotive Group has a 1-year low of $202.98 and a 1-year high of $312.56.

Hedge Funds Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in ABG. GAMMA Investing LLC increased its stake in shares of Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after purchasing an additional 101 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Asbury Automotive Group by 13.0% during the third quarter. Inspire Investing LLC now owns 1,734 shares of the company’s stock valued at $414,000 after purchasing an additional 199 shares in the last quarter. Creative Planning increased its stake in shares of Asbury Automotive Group by 5.1% during the third quarter. Creative Planning now owns 4,129 shares of the company’s stock valued at $985,000 after purchasing an additional 200 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Asbury Automotive Group during the third quarter valued at approximately $154,270,000. Finally, Moody Aldrich Partners LLC increased its stake in shares of Asbury Automotive Group by 17.7% during the third quarter. Moody Aldrich Partners LLC now owns 10,830 shares of the company’s stock valued at $2,584,000 after purchasing an additional 1,627 shares in the last quarter.

About Asbury Automotive Group

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.