Asbury Automotive Group (NYSE:ABG) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $202.60 and traded as low as $199.55. Asbury Automotive Group shares last traded at $200.0150, with a volume of 195,681 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup boosted their price objective on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Morgan Stanley raised their target price on shares of Asbury Automotive Group from $184.00 to $200.00 and gave the stock an “equal weight” rating in a report on Monday. Barclays dropped their target price on shares of Asbury Automotive Group from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Thursday, October 22nd. Finally, Seaport Research Partners upgraded shares of Asbury Automotive Group from a “neutral” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Asbury Automotive Group has an average rating of “Hold” and an average price target of $222.88.

Asbury Automotive Group Trading Down 3.8%

The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.50 and a beta of 0.78. The company has a 50-day moving average price of $187.78 and a 200 day moving average price of $202.60. The company has a quick ratio of 0.29, a current ratio of 0.91 and a debt-to-equity ratio of 0.73.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.42 by ($0.26). The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.85%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.17 EPS. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 24.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Asbury Automotive Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Asbury Automotive Group during the 2nd quarter valued at about $593,499,000. Cooke & Bieler LP acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at about $65,167,000. Madison Asset Management LLC acquired a new position in shares of Asbury Automotive Group in the 2nd quarter valued at about $60,592,000. Lakewood Capital Management LP purchased a new stake in shares of Asbury Automotive Group in the second quarter worth approximately $35,919,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Asbury Automotive Group in the second quarter worth approximately $27,142,000.

About Asbury Automotive Group

Asbury Automotive Group is a U.S. automotive retailer that operates franchised new- and used-vehicle dealerships. Its dealerships sell vehicles from a range of manufacturers and offer related services, including vehicle financing and insurance products, maintenance and repairs, parts sales, and collision repair. The company also operates Clicklane, a digital platform that lets customers research, purchase, finance, and arrange delivery of vehicles online. Asbury was founded in 1995 and has expanded through acquisitions, including its 2021 purchase of Larry H. Miller Dealerships.