Asbury Automotive Group (NYSE:ABG) PT Lowered to $305.00 at Bank of America

Asbury Automotive Group (NYSE:ABG) had its price objective reduced by Bank of America from $310.00 to $305.00 in a research report report published on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research analysts have also issued reports on ABG. StockNews.com lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, Stephens began coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $251.20.

Asbury Automotive Group Trading Up 4.1 %

Asbury Automotive Group stock opened at $234.99 on Monday. Asbury Automotive Group has a 12 month low of $178.40 and a 12 month high of $277.13. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 8.56 and a beta of 1.16. The business has a 50 day moving average price of $229.85 and a two-hundred day moving average price of $231.06. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $8.95 earnings per share. As a group, equities analysts forecast that Asbury Automotive Group will post 26.01 EPS for the current year.

Insider Activity

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 sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently modified their holdings of the stock. Eminence Capital LP increased its holdings in shares of Asbury Automotive Group by 41.5% in the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock valued at $240,818,000 after buying an additional 69,975 shares during the period. Khrom Capital Management LLC acquired a new stake in shares of Asbury Automotive Group in the 2nd quarter valued at $14,572,000. GCM Grosvenor Holdings LLC raised its position in shares of Asbury Automotive Group by 250.8% during the second quarter. GCM Grosvenor Holdings LLC now owns 73,000 shares of the company’s stock worth $16,635,000 after acquiring an additional 52,191 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of Asbury Automotive Group by 107.7% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 47,444 shares of the company’s stock valued at $10,811,000 after acquiring an additional 24,603 shares during the period.

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.