Asbury Automotive Group (NYSE:ABG) Price Target Raised to $260.00

by · The Cerbat Gem

Asbury Automotive Group (NYSE:ABG – Free Report) had its price objective lifted by Craig Hallum from $240.00 to $260.00 in a research report report published on Wednesday, Benzinga reports. Craig Hallum currently has a hold rating on the stock.

A number of other equities analysts also recently weighed in on ABG. Bank of America lowered their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, Stephens began coverage on Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $257.20.

Read Our Latest Research Report on Asbury Automotive Group

Asbury Automotive Group Trading Up 0.1 %

Shares of ABG stock opened at $227.98 on Wednesday. Asbury Automotive Group has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 12.90 and a beta of 1.16. The stock has a 50-day moving average of $229.78 and a 200-day moving average of $231.39.

Asbury Automotive Group (NYSE:ABG – Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.58%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $8.12 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that Asbury Automotive Group will post 25.87 earnings per share for the current year.

Insider Buying and Selling

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the transaction, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABG. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group during the 3rd quarter valued at $31,000. Quarry LP purchased a new position in Asbury Automotive Group during the second quarter worth about $38,000. GAMMA Investing LLC grew its position in Asbury Automotive Group by 100.0% in the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Asbury Automotive Group in the 2nd quarter valued at about $155,000. Finally, Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth approximately $190,000.

About Asbury Automotive Group

(Get Free Report)

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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