Asbury Automotive Group, Inc. (NYSE:ABG) Receives $263.50 Average PT from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have received a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $263.50.

Several brokerages have recently commented on ABG. Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Wall Street Zen upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Bank of America increased their price objective on Asbury Automotive Group from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, June 16th.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors and hedge funds have recently bought and sold shares of ABG. State of New Jersey Common Pension Fund D grew its position in Asbury Automotive Group by 3.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 8,381 shares of the company’s stock worth $2,037,000 after acquiring an additional 254 shares during the last quarter. Principal Financial Group Inc. grew its position in Asbury Automotive Group by 0.8% during the 4th quarter. Principal Financial Group Inc. now owns 94,995 shares of the company’s stock worth $23,087,000 after acquiring an additional 788 shares during the last quarter. CIBC Asset Management Inc grew its position in Asbury Automotive Group by 54.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,979 shares of the company’s stock worth $481,000 after acquiring an additional 696 shares during the last quarter. Venturi Wealth Management LLC grew its position in Asbury Automotive Group by 28.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,408 shares of the company’s stock worth $342,000 after acquiring an additional 315 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Asbury Automotive Group by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 66,645 shares of the company’s stock worth $16,197,000 after acquiring an additional 389 shares during the last quarter.

Asbury Automotive Group Price Performance

Shares of NYSE ABG opened at $241.01 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.59 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $229.51 and its two-hundred day simple moving average is $244.82. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. Asbury Automotive Group’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.21 earnings per share. As a group, equities analysts anticipate that Asbury Automotive Group will post 26.28 EPS for the current fiscal year.

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.