Asbury Automotive Group Inc (ABG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Asbury Automotive Group Inc (NYSE:ABG) have received a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $56.75.

Several analysts have weighed in on the company. TheStreet downgraded Asbury Automotive Group from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. Zacks Investment Research raised Asbury Automotive Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price (down previously from $68.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $58.00 target price (down previously from $60.00) on shares of Asbury Automotive Group in a research note on Wednesday, July 26th.

In related news, insider William Frederick Stax sold 495 shares of Asbury Automotive Group stock in a transaction on Friday, August 4th. The stock was sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now directly owns 4,586 shares in the company, valued at approximately $248,790.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Msd Capital L. P sold 104,949 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $51.27, for a total value of $5,380,735.23. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ABG. BlackRock Inc. grew its holdings in shares of Asbury Automotive Group by 116,095.7% in the 1st quarter. BlackRock Inc. now owns 2,514,474 shares of the company’s stock worth $151,120,000 after acquiring an additional 2,512,310 shares during the last quarter. FMR LLC acquired a new position in shares of Asbury Automotive Group in the 1st quarter worth $45,869,000. Neuberger Berman Group LLC grew its holdings in shares of Asbury Automotive Group by 42.2% in the 1st quarter. Neuberger Berman Group LLC now owns 1,446,088 shares of the company’s stock worth $86,910,000 after acquiring an additional 429,046 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Asbury Automotive Group by 304.9% in the 1st quarter. Prudential Financial Inc. now owns 521,648 shares of the company’s stock worth $31,352,000 after acquiring an additional 392,811 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in shares of Asbury Automotive Group in the 2nd quarter worth $294,000. Institutional investors and hedge funds own 99.89% of the company’s stock.

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Asbury Automotive Group (ABG) opened at 57.60 on Wednesday. The stock has a 50 day moving average of $53.03 and a 200-day moving average of $57.25. The company has a market capitalization of $1.20 billion, a PE ratio of 7.49 and a beta of 1.42. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.09). The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Equities analysts expect that Asbury Automotive Group will post $6.34 earnings per share for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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