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

Asbury Automotive Group Inc (NYSE:ABG) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.75.

Several analysts have commented on the stock. TheStreet raised shares of Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Zacks Investment Research lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $58.00 price objective (down previously from $60.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st.

In other news, insider William Frederick Stax sold 495 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the sale, the insider now owns 4,586 shares of the company’s stock, valued at $248,790.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dennis E. Clements sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $58.66, for a total transaction of $293,300.00. Following the completion of the sale, the director now directly owns 20,531 shares in the company, valued at approximately $1,204,348.46. The disclosure for this sale can be found here. In the last three months, insiders sold 110,444 shares of company stock worth $5,700,889. Insiders own 11.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in Asbury Automotive Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,655 shares of the company’s stock worth $433,000 after acquiring an additional 20 shares during the period. Aperio Group LLC increased its holdings in Asbury Automotive Group by 0.7% during the 2nd quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock worth $402,000 after acquiring an additional 51 shares during the period. Mason Street Advisors LLC increased its holdings in Asbury Automotive Group by 2.1% during the 1st quarter. Mason Street Advisors LLC now owns 4,401 shares of the company’s stock worth $265,000 after acquiring an additional 92 shares during the period. Texas Permanent School Fund increased its holdings in Asbury Automotive Group by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock worth $777,000 after acquiring an additional 115 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in Asbury Automotive Group by 4.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after acquiring an additional 132 shares during the period. 99.89% of the stock is currently owned by institutional investors.

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Asbury Automotive Group (NYSE:ABG) opened at 61.75 on Friday. Asbury Automotive Group has a 12-month low of $47.50 and a 12-month high of $71.00. The company has a market capitalization of $1.31 billion, a PE ratio of 8.34 and a beta of 1.45. The firm has a 50-day moving average of $56.76 and a 200 day moving average of $56.87.

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

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