Stephens Issues Positive Forecast for Asbury Automotive Group (NYSE:ABG) Stock Price

Asbury Automotive Group (NYSE:ABG) had its target price lifted by stock analysts at Stephens from $220.00 to $260.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target would indicate a potential downside of 11.56% from the company’s previous close.

Other research analysts have also issued reports about the stock. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Bank of America lowered their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Craig Hallum upgraded Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $264.00.

Asbury Automotive Group Price Performance

NYSE:ABG opened at $293.99 on Tuesday. The company has a market cap of $5.76 billion, a P/E ratio of 13.67 and a beta of 1.20. Asbury Automotive Group has a 52-week low of $202.98 and a 52-week high of $312.56. The stock’s 50-day simple moving average is $258.22 and its 200 day simple moving average is $245.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after acquiring an additional 101 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after purchasing an additional 351 shares during the period. KBC Group NV grew its holdings in shares of Asbury Automotive Group by 52.3% during the fourth quarter. KBC Group NV now owns 769 shares of the company’s stock valued at $187,000 after buying an additional 264 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Asbury Automotive Group by 17.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock valued at $204,000 after purchasing an additional 123 shares during the last quarter.

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.