Shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Free Report) have earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $256.20.
Several analysts have issued reports on ABG shares. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Craig Hallum boosted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America cut their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th.
Check Out Our Latest Research Report on Asbury Automotive Group
Asbury Automotive Group Stock Performance
Asbury Automotive Group (NYSE:ABG – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.12 earnings per share. As a group, analysts anticipate that Asbury Automotive Group will post 25.17 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Asbury Automotive Group by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock valued at $45,065,000 after purchasing an additional 7,754 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Asbury Automotive Group by 21.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,304 shares of the company’s stock worth $981,000 after acquiring an additional 753 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Asbury Automotive Group during the second quarter worth $376,000. Victory Capital Management Inc. lifted its position in Asbury Automotive Group by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 19,928 shares of the company’s stock valued at $4,541,000 after acquiring an additional 448 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Asbury Automotive Group by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after purchasing an additional 51 shares during the period.
Asbury Automotive Group Company Profile
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.
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