Asbury Automotive Group Inc. (NYSE:ABG) shares dropped 2.8% during mid-day trading on Monday . The company traded as low as $52.14 and last traded at $52.45, with a volume of 172,639 shares traded. The stock had previously closed at $53.94.

ABG has been the topic of a number of analyst reports. TheStreet raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Asbury Automotive Group currently has an average rating of “Hold” and an average target price of $78.38.

The company has a market cap of $1.17 billion and a P/E ratio of 8.02. The firm has a 50 day moving average of $56.87 and a 200-day moving average of $56.25.

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, hitting the Thomson Reuters’ consensus estimate of $1.65. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts expect that Asbury Automotive Group Inc. will post $6.09 earnings per share for the current year.

In other news, SVP George A. Villasana sold 10,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $60.36, for a total transaction of $603,600.00. Following the sale, the senior vice president now owns 22,238 shares of the company’s stock, valued at $1,342,285.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig T. Monaghan sold 27,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total transaction of $1,563,840.00. Following the sale, the chief executive officer now directly owns 125,519 shares in the company, valued at approximately $7,270,060.48. The disclosure for this sale can be found here.

Several hedge funds have modified their holdings of ABG. KBC Group NV boosted its stake 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 in the last quarter. Jennison Associates LLC boosted its stake in shares of 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 shares of Asbury Automotive Group during the fourth quarter valued at $2,219,000. Finally, Wells Fargo & Company MN boosted its stake in shares of 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.

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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