Asbury Automotive Group (NYSE:ABG) Reaches New 12-Month Low – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price reached a new 52-week low on Friday . The company traded as low as $205.37 and last traded at $212.52, with a volume of 6781 shares changing hands. The stock had previously closed at $213.47.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Stephens boosted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and a consensus target price of $263.00.

Asbury Automotive Group Stock Performance

The stock has a market cap of $4.16 billion, a P/E ratio of 9.84 and a beta of 1.22. 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 company’s 50-day simple moving average is $262.92 and its 200 day simple moving average is $250.43.

Insider Buying and Selling

In other 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 completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Asbury Automotive Group by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company’s stock worth $269,322,000 after acquiring an additional 9,688 shares during the period. State Street Corp raised its holdings in shares of Asbury Automotive Group by 0.5% in the 3rd quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after purchasing an additional 3,672 shares during the period. Eminence Capital LP lifted its stake in Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock valued at $191,453,000 after purchasing an additional 107,317 shares during the last quarter. Timucuan Asset Management Inc. FL grew its holdings in Asbury Automotive Group by 0.5% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company’s stock valued at $172,035,000 after purchasing an additional 3,490 shares during the period. Finally, Madison Investment Advisors LLC purchased a new stake in Asbury Automotive Group in the fourth quarter worth $82,426,000.

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.