Analysts Set Asbury Automotive Group, Inc. (NYSE:ABG) Target Price at $256.20

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $256.20.

A number of research analysts have recently commented on ABG shares. Bank of America dropped their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Craig Hallum raised their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th.

Institutional Trading of Asbury Automotive Group

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Asbury Automotive Group by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock worth $45,065,000 after acquiring an additional 7,754 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Asbury Automotive Group by 21.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,304 shares of the company’s stock valued at $981,000 after purchasing an additional 753 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Asbury Automotive Group during the second quarter valued at approximately $376,000. Victory Capital Management Inc. boosted its holdings in Asbury Automotive Group by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 19,928 shares of the company’s stock worth $4,541,000 after buying an additional 448 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Asbury Automotive Group by 1.0% during the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after purchasing an additional 51 shares in the last quarter.

Asbury Automotive Group Trading Down 0.6 %

Shares of Asbury Automotive Group stock opened at $242.96 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $250.28 and a 200 day simple moving average of $239.53. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13. The company has a market capitalization of $4.76 billion, a P/E ratio of 13.75 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm posted $8.12 EPS. On average, sell-side analysts anticipate that Asbury Automotive Group will post 25.17 earnings per share for the current fiscal year.

Asbury Automotive Group Company Profile

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.