Asbury Automotive Group Inc (NYSE:ABG) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Thursday.

A number of other research firms also recently commented on ABG. Morgan Stanley dropped their price objective on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Deutsche Bank AG restated a “hold” rating and set a $60.00 price objective (down from $68.00) on shares of Asbury Automotive Group in a report on Thursday, June 22nd. Jefferies Group LLC restated a “neutral” rating on shares of Asbury Automotive Group in a report on Friday, June 2nd. BidaskClub downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Zacks Investment Research downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Asbury Automotive Group presently has an average rating of “Hold” and a consensus price target of $57.80.

Asbury Automotive Group (ABG) opened at 52.25 on Thursday. The stock’s 50 day moving average price is $55.06 and its 200 day moving average price is $59.32. Asbury Automotive Group has a 52-week low of $47.50 and a 52-week high of $71.00. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 6.80 and a beta of 1.42.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.65 earnings per share. On average, analysts forecast that Asbury Automotive Group will post $6.34 EPS for the current year.

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In related news, SVP George Karolis sold 2,743 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total value of $153,553.14. Following the completion of the sale, the senior vice president now directly owns 5,083 shares in the company, valued at approximately $284,546.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO David W. Hult sold 12,500 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total value of $716,750.00. Following the completion of the sale, the chief operating officer now owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,738 shares of company stock valued at $897,157. 11.90% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in ABG. Alps Advisors Inc. increased its stake in shares of Asbury Automotive Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,655 shares of the company’s stock valued at $433,000 after buying an additional 20 shares in the last quarter. Aperio Group LLC increased its stake in shares of Asbury Automotive Group by 0.7% in the second quarter. Aperio Group LLC now owns 7,100 shares of the company’s stock valued at $402,000 after buying an additional 51 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Asbury Automotive Group by 2.1% in the first quarter. Mason Street Advisors LLC now owns 4,401 shares of the company’s stock valued at $265,000 after buying an additional 92 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Asbury Automotive Group by 0.8% in the second quarter. Texas Permanent School Fund now owns 13,741 shares of the company’s stock valued at $777,000 after buying an additional 115 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock valued at $200,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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