Asbury Automotive Group (NYSE:ABG) had its price objective upped by investment analysts at Craig Hallum from $90.00 to $110.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 18.32% from the stock’s current price.
Several other research firms also recently issued reports on ABG. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 target price on the stock. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Morgan Stanley increased their target price on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Finally, ValuEngine upgraded United States Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $87.33.
NYSE:ABG opened at $92.97 on Monday. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.70 and a beta of 1.25. The stock’s fifty day moving average is $84.13. Asbury Automotive Group has a 1 year low of $58.60 and a 1 year high of $95.14. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 1.85.
Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Friday, July 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.11. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. Asbury Automotive Group had a return on equity of 36.34% and a net margin of 2.57%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 earnings per share. Equities analysts forecast that Asbury Automotive Group will post 9.01 earnings per share for the current year.
In related news, Director Eugene S. Katz sold 3,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $80.70, for a total value of $242,100.00. Following the sale, the director now owns 20,122 shares in the company, valued at $1,623,845.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.36% of the company’s stock.
Several hedge funds have recently modified their holdings of ABG. Bank of Montreal Can raised its position in shares of Asbury Automotive Group by 26.1% in the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after buying an additional 209 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Asbury Automotive Group in the first quarter worth $110,000. Denali Advisors LLC raised its position in shares of Asbury Automotive Group by 3,991.5% in the first quarter. Denali Advisors LLC now owns 1,923 shares of the company’s stock worth $133,000 after buying an additional 1,876 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter worth $182,000. Finally, 6 Meridian purchased a new stake in shares of Asbury Automotive Group in the first quarter worth $205,000.
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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