Asbury Automotive Group, Inc. (NYSE:ABG) Receives $237.83 Consensus PT from Analysts

Asbury Automotive Group, Inc. (NYSE:ABG) has earned an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $237.8333.

Several brokerages recently weighed in on ABG. Citigroup increased their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Seaport Research Partners raised Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, September 8th. Stephens reaffirmed an “overweight” rating and issued a $242.00 price target on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Morgan Stanley increased their price target on Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, UBS Group set a $250.00 price objective on Asbury Automotive Group in a research report on Wednesday, July 29th.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $195.23 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.29. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.79 and a beta of 0.71. The company’s 50-day moving average is $215.81 and its two-hundred day moving average is $204.07. Asbury Automotive Group has a 1-year low of $172.01 and a 1-year high of $258.74.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 2.83% and a return on equity of 12.72%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $7.43 EPS. Analysts forecast that Asbury Automotive Group will post 26.44 EPS for the current year.

Insiders Place Their Bets

In other Asbury Automotive Group news, SVP Jed Milstein sold 948 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the transaction, the senior vice president owned 11,259 shares of the company’s stock, valued at $2,817,902.52. This trade represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Asbury Automotive Group during the 2nd quarter worth about $593,499,000. Norges Bank purchased a new position in Asbury Automotive Group during the 4th quarter valued at about $77,963,000. Madison Asset Management LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $60,592,000. Lakewood Capital Management LP acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $35,919,000. Finally, Bank of New York Mellon Corp purchased a new stake in Asbury Automotive Group during the second quarter worth about $27,142,000.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.