Brokerages Set Asbury Automotive Group, Inc. (NYSE:ABG) Price Target at $264.00

Asbury Automotive Group, Inc. (NYSE:ABG) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $264.00.

Several research firms recently commented on ABG. JPMorgan Chase & Co. dropped 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 research report on Friday, January 17th. Stephens raised their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the transaction, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABG. Madison Investment Advisors LLC acquired a new position in Asbury Automotive Group in the 4th quarter valued at $82,426,000. Norges Bank purchased a new position in Asbury Automotive Group during the fourth quarter worth approximately $82,079,000. Artisan Partners Limited Partnership purchased a new position in Asbury Automotive Group during the fourth quarter worth approximately $51,118,000. Natixis Advisors LLC purchased a new position in Asbury Automotive Group during the third quarter worth approximately $26,573,000. Finally, Eminence Capital LP lifted its position in Asbury Automotive Group by 15.8% during the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after buying an additional 107,317 shares in the last quarter.

Asbury Automotive Group Stock Up 1.8 %

ABG stock opened at $231.04 on Thursday. The firm has a market cap of $4.54 billion, a PE ratio of 10.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The firm’s fifty day moving average is $268.34 and its 200 day moving average is $250.58. Asbury Automotive Group has a one year low of $206.62 and a one year high of $312.56.

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.