Zacks Investment Research upgraded shares of Asbury Automotive Group (NYSE:ABG) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $95.00 price objective on the stock.
According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. assumed coverage on Pinduoduo in a research report on Tuesday, July 9th. They issued an underweight rating and a $20.48 price target on the stock. Craig Hallum upgraded Asbury Automotive Group from a hold rating to a buy rating and set a $90.00 price objective for the company in a research report on Wednesday, April 24th. Finally, Morgan Stanley increased their price target on shares of Sonic Automotive from $10.00 to $18.00 and gave the company an underweight rating in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $84.00.
NYSE ABG opened at $84.50 on Wednesday. The business’s 50 day simple moving average is $80.68. The firm has a market capitalization of $1.63 billion, a PE ratio of 10.05, a P/E/G ratio of 0.65 and a beta of 1.25. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 1.85. Asbury Automotive Group has a one year low of $58.60 and a one year high of $87.16.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, April 23rd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.92 by $0.28. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Asbury Automotive Group had a return on equity of 36.35% and a net margin of 2.43%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. As a group, sell-side analysts predict that Asbury Automotive Group will post 9.01 earnings per share for the current year.
In related news, VP William Frederick Stax sold 1,000 shares of Asbury Automotive Group stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the vice president now owns 3,888 shares of the company’s stock, valued at $307,735.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David W. Hult sold 15,000 shares of Asbury Automotive Group stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $79.25, for a total value of $1,188,750.00. Following the sale, the chief executive officer now directly owns 25,703 shares of the company’s stock, valued at approximately $2,036,962.75. The disclosure for this sale can be found here. In the last three months, insiders sold 32,599 shares of company stock valued at $2,589,539. Insiders own 1.36% of the company’s stock.
A number of large investors have recently bought and sold shares of ABG. BlackRock Inc. lifted its stake in Asbury Automotive Group by 1.3% during the fourth quarter. BlackRock Inc. now owns 3,384,516 shares of the company’s stock worth $225,611,000 after purchasing an additional 42,446 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Asbury Automotive Group by 9.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,419,858 shares of the company’s stock worth $98,481,000 after buying an additional 117,677 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Asbury Automotive Group by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 888,124 shares of the company’s stock worth $59,202,000 after buying an additional 8,989 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Asbury Automotive Group by 1.9% in the 4th quarter. Macquarie Group Ltd. now owns 423,813 shares of the company’s stock worth $28,251,000 after buying an additional 7,900 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $18,252,000.
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.
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