Asbury Automotive Group Inc. (NYSE:ABG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $62.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.64% from the stock’s current price.
According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “
Other equities analysts have also recently issued reports about the stock. Wolfe Research began coverage on shares of Asbury Automotive Group in a research report on Tuesday, September 13th. They set a “market perform” rating for the company. TheStreet upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $70.75.
Asbury Automotive Group (NYSE:ABG) opened at 54.56 on Tuesday. The company has a market capitalization of $1.21 billion, a PE ratio of 8.31 and a beta of 1.26. The stock’s 50 day moving average is $54.47 and its 200-day moving average is $56.29. Asbury Automotive Group has a 12 month low of $43.56 and a 12 month high of $87.63.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.65. Asbury Automotive Group had a net margin of 2.45% and a return on equity of 51.29%. The company earned $1.63 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group will post $6.11 EPS for the current year.
In other news, insider William Frederick Stax sold 500 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $60.88, for a total value of $30,440.00. Following the sale, the insider now directly owns 1,763 shares of the company’s stock, valued at approximately $107,331.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Keith Style sold 5,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the sale, the chief financial officer now directly owns 26,642 shares in the company, valued at $1,628,092.62. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ABG. Cubist Systematic Strategies LLC raised its stake in Asbury Automotive Group by 2.1% in the second quarter. Cubist Systematic Strategies LLC now owns 9,818 shares of the company’s stock worth $518,000 after buying an additional 199 shares in the last quarter. Suntrust Banks Inc. raised its stake in Asbury Automotive Group by 5.7% in the second quarter. Suntrust Banks Inc. now owns 4,383 shares of the company’s stock worth $231,000 after buying an additional 238 shares in the last quarter. Menta Capital LLC raised its stake in Asbury Automotive Group by 3.2% in the second quarter. Menta Capital LLC now owns 9,814 shares of the company’s stock worth $518,000 after buying an additional 300 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Asbury Automotive Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,010 shares of the company’s stock worth $159,000 after buying an additional 364 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Asbury Automotive Group by 18.6% in the second quarter. Public Employees Retirement System of Ohio now owns 2,632 shares of the company’s stock worth $139,000 after buying an additional 412 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.
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