Asbury Automotive Group (NYSE:ABG) Reaches New 52-Week Low – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $186.27 and last traded at $189.4850, with a volume of 422748 shares changing hands. The stock had previously closed at $189.11.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABG. Barclays decreased their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th. Bank of America assumed coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Morgan Stanley set a $230.00 target price on Asbury Automotive Group in a research report on Monday, December 8th. Finally, Weiss Ratings lowered Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and an average target price of $247.57.

Asbury Automotive Group Trading Up 0.2%

The company has a market cap of $3.65 billion, a price-to-earnings ratio of 7.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The business’s 50-day simple moving average is $226.25 and its 200-day simple moving average is $234.54.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Thursday, February 5th. The company reported $6.67 EPS for the quarter, missing the consensus estimate of $6.70 by ($0.03). Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the company earned $7.26 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In related news, Director B. Christopher Disantis bought 500 shares of the stock in a transaction on Tuesday, March 10th. The shares were purchased at an average price of $202.30 per share, for a total transaction of $101,150.00. Following the acquisition, the director owned 5,400 shares in the company, valued at $1,092,420. This represents a 10.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Asbury Automotive Group in the fourth quarter valued at $25,000. Quarry LP increased its position in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares in the last quarter. Torren Management LLC purchased a new stake in Asbury Automotive Group during the 4th quarter worth about $27,000. Bogart Wealth LLC raised its stake in Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its stake in Asbury Automotive Group by 76.0% in the 4th quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock valued at $32,000 after purchasing an additional 57 shares during the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.