JPMorgan Chase & Co. Cuts Asbury Automotive Group (NYSE:ABG) Price Target to $250.00

Asbury Automotive Group (NYSE:ABG) had its price objective cut by JPMorgan Chase & Co. from $290.00 to $250.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

ABG has been the subject of several other reports. Stephens boosted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Trading Down 3.7 %

Shares of ABG opened at $217.75 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group has a 1-year low of $206.62 and a 1-year high of $312.56. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 10.12 and a beta of 1.22. The firm has a 50 day simple moving average of $266.44 and a 200-day simple moving average of $250.55.

Insider Activity

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GoodHaven Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at approximately $2,916,000. Magnolia Group LLC increased its stake in Asbury Automotive Group by 2.1% during the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock valued at $36,241,000 after purchasing an additional 3,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth $221,000. Charles Schwab Investment Management Inc. lifted its position in shares of Asbury Automotive Group by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock worth $51,465,000 after buying an additional 3,273 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Asbury Automotive Group by 52.3% in the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company’s stock valued at $1,897,000 after buying an additional 2,680 shares during the period.

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.