Asbury Automotive Group Inc. (ABG) Shares Down 4%
Asbury Automotive Group Inc. (NYSE:ABG) shares dropped 4% on Monday . The stock 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 several recent analyst reports. TheStreet upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Zacks Investment Research lowered Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Finally, Jefferies Group began coverage on Asbury Automotive Group in a report on Monday, April 11th. They set a “hold” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $78.38.
The company has a market cap of $1.23 billion and a price-to-earnings ratio of 8.47. The stock’s 50 day moving average price is $56.33 and its 200-day moving average price is $55.66.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.65 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.65. During the same quarter in the previous year, the company earned $1.52 earnings per share. The company earned $1.63 billion during the quarter, compared to analyst estimates of $1.72 billion. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group Inc. will post $6.10 EPS for the current year.
In related news, SVP George A. Villasana sold 10,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $60.36, for a total value of $603,600.00. Following the completion of the sale, the senior vice president now directly owns 22,238 shares in the company, valued at $1,342,285.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Frederick Stax sold 500 shares of the 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 completion of the sale, the insider now owns 1,763 shares of the company’s stock, valued at $107,331.44. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of Asbury Automotive Group by 3.3% in the fourth quarter. Rhumbline Advisers now owns 32,888 shares of the company’s stock worth $2,218,000 after buying an additional 1,050 shares during the period. California Public Employees Retirement System boosted its stake in shares of Asbury Automotive Group by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 84,600 shares of the company’s stock worth $5,705,000 after buying an additional 1,200 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Asbury Automotive Group by 46.6% in the fourth quarter. New York State Common Retirement Fund now owns 66,314 shares of the company’s stock worth $4,472,000 after buying an additional 21,087 shares during the period. 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 worth $10,940,000 after buying an additional 4,520 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of 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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