Asbury Automotive Group Inc (ABG) Given Hold Rating at Jefferies Group LLC
Jefferies Group LLC restated their hold rating on shares of Asbury Automotive Group Inc (NYSE:ABG) in a research report released on Thursday morning. The firm currently has a $61.00 target price on the stock.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Monday, October 2nd. TheStreet raised shares of Asbury Automotive Group from a c+ rating to a b- rating in a report on Wednesday, September 27th. BidaskClub cut shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Monday, July 31st. Deutsche Bank AG reaffirmed a hold rating and issued a $58.00 target price (down from $60.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Finally, Craig Hallum reaffirmed a hold rating and issued a $55.00 target price (down from $65.00) on shares of Asbury Automotive Group in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Asbury Automotive Group currently has a consensus rating of Hold and an average target price of $56.75.
Asbury Automotive Group (NYSE:ABG) traded up 0.26% during mid-day trading on Thursday, hitting $57.55. 127,947 shares of the stock were exchanged. Asbury Automotive Group has a 52-week low of $47.50 and a 52-week high of $71.00. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 7.49 and a beta of 1.45. The company has a 50 day moving average price of $57.71 and a 200 day moving average price of $56.83.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.09). The business 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 was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. On average, analysts anticipate that Asbury Automotive Group will post $6.30 EPS for the current year.
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In other Asbury Automotive Group news, insider William Frederick Stax sold 495 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $54.25, for a total value of $26,853.75. Following the transaction, the insider now directly owns 4,586 shares of the company’s stock, valued at approximately $248,790.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Msd Capital L. P sold 104,949 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $51.27, for a total transaction of $5,380,735.23. The disclosure for this sale can be found here. Insiders sold a total of 110,444 shares of company stock worth $5,700,889 over the last three months. 11.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ABG. BlackRock Inc. increased its stake in Asbury Automotive Group by 116,095.7% in the 1st quarter. BlackRock Inc. now owns 2,514,474 shares of the company’s stock valued at $151,120,000 after buying an additional 2,512,310 shares during the period. FMR LLC acquired a new position in Asbury Automotive Group in the 1st quarter valued at $45,869,000. Koch Industries Inc. acquired a new position in Asbury Automotive Group in the 2nd quarter valued at $294,000. Bank of America Corp DE increased its stake in Asbury Automotive Group by 339.9% in the 1st quarter. Bank of America Corp DE now owns 380,516 shares of the company’s stock valued at $22,869,000 after buying an additional 294,008 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Asbury Automotive Group in the 1st quarter valued at $7,555,000.
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.
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