Wall Street analysts expect Asbury Automotive Group, Inc. (NYSE:ABG) to post sales of $1.85 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Asbury Automotive Group’s earnings, with estimates ranging from $1.83 billion to $1.87 billion. Asbury Automotive Group reported sales of $1.76 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The business is expected to issue its next quarterly earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that Asbury Automotive Group will report full year sales of $7.21 billion for the current financial year, with estimates ranging from $7.17 billion to $7.24 billion. For the next year, analysts forecast that the business will post sales of $7.34 billion, with estimates ranging from $7.21 billion to $7.47 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Asbury Automotive Group.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.11. Asbury Automotive Group had a return on equity of 35.08% and a net margin of 2.57%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis.

Several research analysts have recently weighed in on the company. Bank of America lowered Asbury Automotive Group from a “buy” rating to a “neutral” rating in a research report on Friday. Morgan Stanley lifted their price objective on Asbury Automotive Group from $86.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Thursday, August 1st. Craig Hallum lifted their price objective on Asbury Automotive Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Asbury Automotive Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $90.00.

In other Asbury Automotive Group news, Director Juanita T. James sold 1,000 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $92.21, for a total transaction of $92,210.00. Following the completion of the transaction, the director now owns 7,299 shares in the company, valued at approximately $673,040.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas C. Deloach, Jr. sold 2,000 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $91.00, for a total transaction of $182,000.00. Following the transaction, the director now directly owns 15,703 shares in the company, valued at approximately $1,428,973. The disclosure for this sale can be found here. Insiders have sold a total of 12,324 shares of company stock valued at $1,129,466 in the last quarter. Company insiders own 1.36% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. UBS Group AG lifted its position in shares of Asbury Automotive Group by 6.2% during the 2nd quarter. UBS Group AG now owns 388,981 shares of the company’s stock worth $32,807,000 after buying an additional 22,644 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth approximately $5,598,000. Victory Capital Management Inc. lifted its position in shares of Asbury Automotive Group by 0.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,424,447 shares of the company’s stock worth $120,138,000 after buying an additional 4,589 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Asbury Automotive Group by 10.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,258 shares of the company’s stock worth $1,371,000 after buying an additional 1,474 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Asbury Automotive Group by 259.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 15,673 shares of the company’s stock worth $1,322,000 after buying an additional 25,473 shares in the last quarter.

Shares of ABG stock traded down $1.00 during mid-day trading on Tuesday, hitting $100.80. The company’s stock had a trading volume of 3,858 shares, compared to its average volume of 125,749. The company’s fifty day simple moving average is $92.55 and its 200-day simple moving average is $80.71. Asbury Automotive Group has a 52 week low of $58.60 and a 52 week high of $103.92. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.34 and a current ratio of 1.20. The company has a market cap of $1.96 billion, a PE ratio of 11.99, a P/E/G ratio of 0.76 and a beta of 1.25.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.

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