Asbury Automotive Group (NYSE:ABG) announced its quarterly earnings results on Monday. The company reported $7.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.36 by $1.00, MarketWatch Earnings reports. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.27 billion. Asbury Automotive Group had a return on equity of 42.22% and a net margin of 4.86%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.08 EPS.
Shares of ABG stock traded down $7.69 during trading hours on Wednesday, hitting $201.11. 623 shares of the company’s stock were exchanged, compared to its average volume of 178,839. The stock’s 50-day moving average is $191.56 and its 200-day moving average is $191.56. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.49 and a quick ratio of 0.75. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 0.51 and a beta of 1.60. Asbury Automotive Group has a 52 week low of $99.65 and a 52 week high of $230.96.
Several brokerages have recently issued reports on ABG. Truist Financial upgraded Asbury Automotive Group to a “buy” rating and set a $250.00 price target for the company in a report on Thursday, September 30th. Truist upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $210.00 to $250.00 in a report on Thursday, September 30th. Craig Hallum boosted their target price on Asbury Automotive Group from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 30th. Truist Securities upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Thursday, September 30th. Finally, Morgan Stanley boosted their target price on Asbury Automotive Group from $201.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Asbury Automotive Group currently has an average rating of “Buy” and an average price target of $219.25.
Asbury Automotive Group, Inc operates as a holding company, which engages in the automotive dealership. Its services include oil change, car brakes, changing tires, check engine light, battery, and wheel alignment. The company was founded in 1995 and is headquartered in Duluth, GA.
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