Asbury Automotive Group Inc. (ABG) Shares Gap Up to $54.63
Asbury Automotive Group Inc. (NYSE:ABG)’s share price gapped up prior to trading on Monday . The stock had previously closed at $54.37, but opened at $54.63. Asbury Automotive Group shares last traded at $56.06, with a volume of 76,750 shares trading hands.
A number of brokerages have recently commented on ABG. Zacks Investment Research raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th. Jefferies Group began coverage on shares of Asbury Automotive Group in a research note 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 assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.38.
The company has a market capitalization of $1.24 billion and a P/E ratio of 8.72. The firm has a 50 day moving average of $54.52 and a 200-day moving average of $55.60.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.03. The company earned $1.60 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Asbury Automotive Group Inc. will post $6.10 earnings per share for the current fiscal year.
In other news, SVP George Karolis sold 1,717 shares of the 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 transaction, the senior vice president now owns 7,537 shares in the company, valued at approximately $455,762.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis E. Clements sold 2,034 shares of the 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 in the company, valued at approximately $1,329,711.33. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $8,765,000. Engineers Gate Manager LP raised its position in shares of Asbury Automotive Group by 16.3% in the fourth quarter. Engineers Gate Manager LP now owns 38,503 shares of the company’s stock valued at $2,597,000 after buying an additional 5,384 shares during the period. LSV Asset Management acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $1,342,000. Deimos Asset Management LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $1,484,000. Finally, Sei Investments Co. acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $5,939,000.
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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