Barclays Lowers Asbury Automotive Group (NYSE:ABG) Price Target to $225.00

Asbury Automotive Group (NYSE:ABG) had its price objective reduced by stock analysts at Barclays from $235.00 to $225.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 5.69% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Weiss Ratings downgraded Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Citigroup reduced their price objective on shares of Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. UBS Group increased their price objective on shares of Asbury Automotive Group from $202.00 to $221.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Finally, Stephens restated an “overweight” rating and set a $242.00 price target on shares of Asbury Automotive Group in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $233.12.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $212.90 on Wednesday. The firm has a market cap of $3.96 billion, a PE ratio of 7.54, a P/E/G ratio of 1.24 and a beta of 0.74. Asbury Automotive Group has a twelve month low of $172.01 and a twelve month high of $265.41. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $196.65 and a 200 day moving average price of $210.57.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the company posted $6.82 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that Asbury Automotive Group will post 25.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director B. Christopher Disantis acquired 157 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $182.31 per share, with a total value of $28,622.67. Following the purchase, the director owned 6,400 shares in the company, valued at $1,166,784. This trade represents a 2.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $25,000. Quarry LP grew its stake in Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares in the last quarter. Torren Management LLC acquired a new stake in Asbury Automotive Group in the 4th quarter valued at about $27,000. Bogart Wealth LLC raised its holdings 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 acquiring an additional 44 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted 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 worth $32,000 after purchasing an additional 57 shares in 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.