Asbury Automotive Group Inc (ABG) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Asbury Automotive Group Inc (NYSE:ABG) have been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $56.75.
Several research firms have recently weighed in on ABG. BidaskClub raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a research note on Friday, June 2nd. ValuEngine lowered Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Morgan Stanley reduced their price objective on Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th.
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In related news, SVP George Karolis sold 2,743 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total transaction of $153,553.14. Following 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 document filed with the SEC, which is accessible through this link. Also, COO David W. Hult sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total value of $716,750.00. Following the sale, the chief operating officer now owns 41,911 shares in the company, valued at $2,403,176.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,687 shares of company stock worth $6,277,892. Company insiders own 11.90% of the company’s stock.
Several large investors have recently made changes to their positions in ABG. Ameritas Investment Partners Inc. bought a new stake in shares of Asbury Automotive Group during the first quarter valued at approximately $104,000. Victory Capital Management Inc. increased its stake in shares of Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock valued at $113,000 after buying an additional 587 shares during the last quarter. 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 during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Asbury Automotive Group during the first quarter valued at approximately $210,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Asbury Automotive Group by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock valued at $210,000 after buying an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.
Shares of Asbury Automotive Group (NYSE ABG) opened at 50.65 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 6.59 and a beta of 1.42. The company has a 50-day moving average of $54.57 and a 200 day moving average of $58.80. Asbury Automotive Group has a one year low of $47.50 and a one year high of $71.00.
Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by $0.09. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. Equities research analysts forecast that Asbury Automotive Group will post $6.34 earnings per share for the current fiscal year.
About Asbury Automotive Group
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.
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