Asbury Automotive Group (NYSE:ABG) Price Target Lowered to $250.00 at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target cut by analysts at JPMorgan Chase & Co. from $290.00 to $250.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.81% from the company’s previous close.

A number of other analysts also recently weighed in on ABG. Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens upped their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $263.00.

Asbury Automotive Group Trading Down 3.7 %

ABG opened at $217.75 on Thursday. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 10.12 and a beta of 1.22. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a twelve month low of $206.62 and a twelve month high of $312.56. The company has a 50-day simple moving average of $266.44 and a 200 day simple moving average of $250.31.

Insider Activity at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in Asbury Automotive Group in the 4th quarter valued at approximately $25,000. CIBC Private Wealth Group LLC increased its holdings in Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after purchasing an additional 41 shares during the period. Smartleaf Asset Management LLC raised its position in Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after buying an additional 443 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Asbury Automotive Group by 801.4% in the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock valued at $153,000 after buying an additional 561 shares during the last quarter.

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.