Analysts Set Asbury Automotive Group, Inc. (NYSE:ABG) Price Target at $263.00

Asbury Automotive Group, Inc. (NYSE:ABG) has received an average recommendation of “Hold” from the six research firms that are currently covering the company, 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 objective among analysts that have covered the stock in the last year is $263.00.

Several research analysts recently issued reports on ABG shares. Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Finally, Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $232.52 on Monday. Asbury Automotive Group has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a market capitalization of $4.57 billion, a P/E ratio of 10.81 and a beta of 1.04. 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 firm has a 50-day moving average price of $256.49 and a two-hundred day moving average price of $250.27.

Insider Activity

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently bought and sold shares of the stock. GoodHaven Capital Management LLC acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth $2,916,000. Magnolia Group LLC increased its stake in Asbury Automotive Group by 2.1% during the fourth quarter. Magnolia Group LLC now owns 149,123 shares of the company’s stock worth $36,241,000 after acquiring an additional 3,000 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Asbury Automotive Group by 52.3% in the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company’s stock worth $1,897,000 after purchasing an additional 2,680 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Asbury Automotive Group in the 4th quarter valued at about $221,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Asbury Automotive Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock worth $51,465,000 after purchasing an additional 3,273 shares during the period.

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.