Asbury Automotive Group, Inc. (NYSE:ABG) Receives Consensus Recommendation of “Hold” from Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $232.00.

A number of brokerages have commented on ABG. Barclays increased their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. Morgan Stanley set a $220.00 price target on Asbury Automotive Group in a research note on Thursday, May 7th. UBS Group began coverage on Asbury Automotive Group in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $202.00 price objective for the company. Stephens reissued an “overweight” rating and set a $242.00 price objective on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. Finally, Citigroup reduced their target price on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis bought 157 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $182.31 per share, with a total value of $28,622.67. Following the acquisition, the director owned 6,400 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in Asbury Automotive Group in the fourth quarter valued at about $25,000. Quarry LP grew its position in shares of Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after buying an additional 83 shares during the period. Torren Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter valued at about $27,000. Bogart Wealth LLC increased its stake in shares of 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, Salomon & Ludwin LLC raised its position in shares of Asbury Automotive Group by 76.0% in the 4th quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock valued at $32,000 after acquiring an additional 57 shares during the period.

Asbury Automotive Group Stock Up 0.4%

Shares of NYSE ABG opened at $208.87 on Wednesday. Asbury Automotive Group has a 12-month low of $172.01 and a 12-month high of $274.50. The firm’s 50-day simple moving average is $195.66 and its 200 day simple moving average is $211.52. 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 company has a market cap of $3.89 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 1.15 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the firm posted $6.82 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, research analysts expect that Asbury Automotive Group will post 25.7 earnings per share for the current fiscal year.

About Asbury Automotive Group

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.