Asbury Automotive Group Inc. (NYSE:ABG)’s share price dropped 4% on Monday . The company traded as low as $57.91 and last traded at $58.39, with a volume of 174,399 shares. The stock had previously closed at $60.80.

ABG has been the topic of a number of analyst reports. TheStreet raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, July 25th. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, May 5th. Finally, Jefferies Group initiated coverage on Asbury Automotive Group in a research note on Monday, April 11th. They issued a “hold” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $78.38.

The stock’s 50 day moving average is $56.28 and its 200 day moving average is $55.60. The stock has a market capitalization of $1.32 billion and a price-to-earnings ratio of 9.09.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.65. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.72 billion. The company’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. Equities research analysts anticipate that Asbury Automotive Group Inc. will post $6.10 earnings per share for the current year.

In other news, 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 transaction, the director now owns 24,943 shares of the company’s stock, valued at $1,329,711.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Other institutional investors have recently modified their holdings of the company. KBC Group NV raised its position in shares of Asbury Automotive Group by 3,283.9% in the fourth quarter. KBC Group NV now owns 41,690 shares of the company’s stock valued at $2,812,000 after buying an additional 40,458 shares during the period. Pear Tree Advisors Inc. bought a new stake in Asbury Automotive Group during the fourth quarter worth approximately $1,885,000. Jennison Associates LLC increased 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 worth $1,472,000 after buying an additional 1,899 shares in the last quarter. Trexquant Investment LP bought a new stake in Asbury Automotive Group during the fourth quarter worth approximately $2,219,000. Finally, Marshall Wace LLP bought a new stake in Asbury Automotive Group during the fourth quarter worth approximately $8,765,000.

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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