Asbury Automotive Group Inc. (ABG) Shares Up 5.4%
Asbury Automotive Group Inc. (NYSE:ABG) shares shot up 5.4% during trading on Friday . The stock traded as high as $54.45 and last traded at $54.36, with a volume of 148,016 shares traded. The stock had previously closed at $51.59.
Several brokerages recently commented on ABG. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 15th. Jefferies Group began coverage on shares of Asbury Automotive Group in a report on Monday, April 11th. They issued a “hold” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $78.38.
The firm’s 50 day moving average is $54.44 and its 200 day moving average is $55.99. The firm has a market cap of $1.21 billion and a price-to-earnings ratio of 8.51.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, April 26th. The company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.03. During the same quarter in the previous year, the company posted $1.30 EPS. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.63 billion. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group Inc. will post $6.10 earnings per share for the current year.
In other Asbury Automotive Group news, SVP George Karolis sold 1,717 shares of the company’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $60.47, for a total transaction of $103,826.99. Following the sale, the senior vice president now directly owns 7,537 shares of the company’s stock, valued at $455,762.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis E. Clements sold 2,034 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $53.31, for a total transaction of $108,432.54. Following the sale, the director now directly owns 24,943 shares in the company, valued at $1,329,711.33. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Jennison Associates LLC raised its stake in Asbury Automotive Group by 9.5% in the fourth quarter. Jennison Associates LLC now owns 21,820 shares of the company’s stock valued at $1,472,000 after buying an additional 1,899 shares during the period. Trexquant Investment LP purchased a new stake in Asbury Automotive Group during the fourth quarter valued at about $2,219,000. Marshall Wace LLP purchased a new stake in Asbury Automotive Group during the fourth quarter valued at about $8,765,000. Wells Fargo & Company MN raised its stake in Asbury Automotive Group by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 162,222 shares of the company’s stock valued at $10,940,000 after buying an additional 4,520 shares during the period. Finally, Deimos Asset Management LLC purchased a new stake in Asbury Automotive Group during the fourth quarter valued at about $1,484,000.
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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