Asbury Automotive Group (NYSE:ABG) Price Target Lowered to $190.00 at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $220.00 to $190.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 15.17% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Barclays upped their price objective on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Citigroup lifted their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley set a $220.00 price target on shares of Asbury Automotive Group in a research note on Thursday, May 7th. Finally, UBS Group set a $250.00 price target on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $245.29.

Asbury Automotive Group Stock Down 1.8%

Asbury Automotive Group stock traded down $4.00 during mid-day trading on Tuesday, hitting $223.97. The company had a trading volume of 135,142 shares, compared to its average volume of 249,891. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 0.89 and a beta of 0.71. Asbury Automotive Group has a 1 year low of $172.01 and a 1 year high of $263.38. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $207.04 and a 200 day moving average of $209.07.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, beating the consensus estimate of $6.31 by $0.51. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $7.43 EPS. On average, sell-side analysts expect that Asbury Automotive Group will post 26.39 earnings per share for the current fiscal year.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis acquired 157 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $182.31 per share, with a total value of $28,622.67. Following the purchase, the director owned 6,400 shares in the company, valued at approximately $1,166,784. The trade was a 2.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the transaction, the senior vice president owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in Asbury Automotive Group in the 4th quarter worth approximately $27,000. Quarry LP grew its stake in Asbury Automotive Group by 319.2% in the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 83 shares during the period. Bogart Wealth LLC raised its holdings in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after acquiring an additional 54 shares during the last quarter.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.