Asbury Automotive Group (NYSE:ABG) Downgraded to “Hold” Rating by Craig Hallum

Asbury Automotive Group (NYSE:ABG) was downgraded by analysts at Craig Hallum from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Stephens upped their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $264.00.

Asbury Automotive Group Trading Down 2.1 %

Shares of Asbury Automotive Group stock opened at $294.55 on Tuesday. The stock has a market capitalization of $5.77 billion, a P/E ratio of 13.69 and a beta of 1.20. The company has a 50-day simple moving average of $263.90 and a 200 day simple moving average of $247.37. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a 12-month low of $202.98 and a 12-month high of $312.56.

Insider Activity

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Asbury Automotive Group by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company’s stock worth $269,322,000 after purchasing an additional 9,688 shares during the period. State Street Corp grew its stake in shares of Asbury Automotive Group by 0.5% in the third quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after purchasing an additional 3,672 shares during the last quarter. Eminence Capital LP boosted its holdings in Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock valued at $191,453,000 after acquiring an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL lifted its stake in shares of Asbury Automotive Group by 0.5% in the 4th quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company’s stock valued at $172,035,000 after purchasing an additional 3,490 shares during the period. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $82,426,000.

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.