Asbury Automotive Group (NYSE:ABG) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of Asbury Automotive Group (NYSE:ABG) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $216.00 target price on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the company a neutral rating in a research report on Tuesday. StockNews.com cut Asbury Automotive Group from a hold rating to a sell rating in a report on Monday, August 12th. Finally, Morgan Stanley increased their price objective on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the company an underweight rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $225.25.

Asbury Automotive Group Trading Down 0.7 %

Asbury Automotive Group stock opened at $212.93 on Thursday. Asbury Automotive Group has a 12-month low of $178.40 and a 12-month high of $277.13. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 7.76 and a beta of 1.16. The firm has a 50 day moving average of $238.20 and a 200 day moving average of $228.86. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the company earned $8.95 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts predict that Asbury Automotive Group will post 27.06 earnings per share for the current year.

Insider Transactions at Asbury Automotive Group

In related news, CEO David W. Hult sold 500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO David W. Hult sold 500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional Trading of Asbury Automotive Group

Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System increased its stake in Asbury Automotive Group by 1.0% during the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH increased its position in shares of Asbury Automotive Group by 1.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after purchasing an additional 51 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Asbury Automotive Group by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after buying an additional 60 shares during the period. Illinois Municipal Retirement Fund lifted its position in Asbury Automotive Group by 0.3% in the first quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock worth $5,819,000 after buying an additional 62 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Asbury Automotive Group by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after buying an additional 66 shares during the last quarter.

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.