Brokerages Set Asbury Automotive Group, Inc. (NYSE:ABG) Price Target at $255.20

Asbury Automotive Group, Inc. (NYSE:ABG) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $255.20.

Several brokerages recently weighed in on ABG. Craig Hallum lifted their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America cut 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 report on Monday, October 14th. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st.

Institutional Trading of Asbury Automotive Group

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in Asbury Automotive Group by 366.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock valued at $45,233,000 after purchasing an additional 148,910 shares during the last quarter. Eminence Capital LP raised its position in shares of Asbury Automotive Group by 41.5% in the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after buying an additional 146,246 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of Asbury Automotive Group in the third quarter worth about $26,573,000. International Assets Investment Management LLC acquired a new position in Asbury Automotive Group during the third quarter worth about $154,270,000. Finally, Khrom Capital Management LLC acquired a new position in Asbury Automotive Group during the second quarter worth about $14,572,000.

Asbury Automotive Group Stock Up 0.4 %

NYSE:ABG opened at $260.90 on Wednesday. The firm has a market capitalization of $5.11 billion, a P/E ratio of 14.76 and a beta of 1.19. The company’s fifty day moving average price is $251.26 and its 200-day moving average price is $241.68. Asbury Automotive Group has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results 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 company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.12 earnings per share. As a group, equities research analysts anticipate that Asbury Automotive Group will post 25.16 EPS for the current 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.