Asbury Automotive Group, Inc. (NYSE:ABG) Given Consensus Rating of “Hold” by Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received an average rating of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $256.20.

ABG has been the topic of a number of recent analyst reports. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Stephens began coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price on the stock. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Craig Hallum raised their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th.

Asbury Automotive Group Price Performance

NYSE ABG opened at $236.93 on Friday. The company has a market cap of $4.64 billion, a PE ratio of 13.41 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. Asbury Automotive Group has a 52-week low of $195.09 and a 52-week high of $277.13. The firm’s 50 day moving average price is $251.40 and its 200-day moving average price is $239.63.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.12 earnings per share. Sell-side analysts forecast that Asbury Automotive Group will post 25.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of ABG. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group in the third quarter worth $31,000. Quarry LP purchased a new position in Asbury Automotive Group in the second quarter valued at approximately $38,000. GAMMA Investing LLC lifted its holdings in shares of Asbury Automotive Group by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter worth about $155,000. Finally, Headlands Technologies LLC purchased a new position in Asbury Automotive Group in the 2nd quarter worth approximately $190,000.

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.