Brokerages Set Asbury Automotive Group, Inc. (NYSE:ABG) Target Price at $237.83

Asbury Automotive Group, Inc. (NYSE:ABG) has been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $237.8333.

A number of research firms recently issued reports on ABG. Barclays boosted their target price on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price objective on Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating for the company in a research note on Tuesday, August 4th. Seaport Research Partners raised shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Tuesday, September 8th. Stephens reiterated an “overweight” rating and issued a $242.00 target price on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th.

Insider Activity

In related news, SVP Jed Milstein sold 948 shares of Asbury Automotive Group stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. This trade represents a 7.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP lifted its position in shares of Asbury Automotive Group by 1,067.2% during the second quarter. Engineers Gate Manager LP now owns 14,217 shares of the company’s stock worth $2,859,000 after acquiring an additional 12,999 shares in the last quarter. GoodHaven Capital Management LLC raised its stake in shares of Asbury Automotive Group by 29.0% during the 2nd quarter. GoodHaven Capital Management LLC now owns 56,450 shares of the company’s stock valued at $11,351,000 after purchasing an additional 12,689 shares during the period. Allworth Financial LP lifted its holdings in Asbury Automotive Group by 263.3% during the 2nd quarter. Allworth Financial LP now owns 178 shares of the company’s stock worth $36,000 after purchasing an additional 129 shares in the last quarter. Nykredit A S bought a new position in Asbury Automotive Group in the 2nd quarter worth about $243,000. Finally, Amundi grew its holdings in Asbury Automotive Group by 5.7% during the 2nd quarter. Amundi now owns 4,310 shares of the company’s stock valued at $867,000 after buying an additional 232 shares in the last quarter.

Asbury Automotive Group Trading Down 0.0%

NYSE:ABG opened at $182.99 on Monday. The firm’s fifty day moving average is $214.74 and its 200-day moving average is $203.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. Asbury Automotive Group has a 52 week low of $172.01 and a 52 week high of $258.74. The firm has a market cap of $3.28 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.70 and a beta of 0.71.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm earned $7.43 earnings per share. Asbury Automotive Group’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Asbury Automotive Group will post 26.44 earnings per share for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc is a U.S.-based automotive retailer that sells new and used vehicles through a network of franchised dealerships. The company represents a range of domestic, import and luxury automotive brands and serves consumers in multiple markets across the United States.

In addition to vehicle sales, Asbury provides automotive maintenance and repair services, replacement parts, collision repair and other dealership-related services. Its dealerships also offer financing and insurance products, vehicle protection plans and digital tools designed to support vehicle purchasing and ownership.

Founded in 1995 and headquartered in Duluth, Georgia, Asbury has expanded through acquisitions as well as the development of its dealership portfolio.