According to Zacks, “Asbury Automotive Group is one of the largest automotive retailers in the United States. They sell, finance and service a diverse range of foreign and domestic automobile brands. “
Several other brokerages have also issued reports on ABG. TheStreet raised Asbury Automotive Group from a hold rating to a buy rating in a research report on Monday, July 25th. Wolfe Research started coverage on Asbury Automotive Group in a research note on Tuesday, September 13th. They set a market perform rating for the company. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $70.75.
Asbury Automotive Group (NYSE:ABG) traded down 0.45% during trading on Monday, hitting $55.00. 8,693 shares of the company traded hands. Asbury Automotive Group has a 12-month low of $43.56 and a 12-month high of $87.61. The stock has a 50-day moving average price of $54.63 and a 200-day moving average price of $55.82. The firm has a market capitalization of $1.22 billion, a P/E ratio of 8.38 and a beta of 1.20.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 26th. The company reported $1.65 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.65. Asbury Automotive Group had a return on equity of 51.29% and a net margin of 2.45%. The firm earned $1.63 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $1.52 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. Equities analysts expect that Asbury Automotive Group will post $6.11 EPS for the current fiscal year.
In other news, CEO Craig T. Monaghan sold 27,000 shares of Asbury Automotive Group stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total transaction of $1,563,840.00. Following the completion of the sale, the chief executive officer now owns 125,519 shares in the company, valued at approximately $7,270,060.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP George A. Villasana sold 10,000 shares of Asbury Automotive Group stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $60.36, for a total value of $603,600.00. Following the sale, the senior vice president now owns 22,238 shares of the company’s stock, valued at approximately $1,342,285.68. The disclosure for this sale can be found here. 10.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of Asbury Automotive Group by 143.7% in the first quarter. BlackRock Fund Advisors now owns 1,575,486 shares of the company’s stock worth $94,277,000 after buying an additional 929,111 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Asbury Automotive Group by 44.9% in the second quarter. Burgundy Asset Management Ltd. now owns 1,128,645 shares of the company’s stock worth $59,525,000 after buying an additional 349,528 shares during the period. Lombardia Capital Partners LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $12,285,000. UBS Group AG increased its stake in shares of Asbury Automotive Group by 125.8% in the first quarter. UBS Group AG now owns 290,279 shares of the company’s stock worth $17,370,000 after buying an additional 161,722 shares during the period. Finally, New Amsterdam Partners LLC NY acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $5,301,000.
About Asbury Automotive Group
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.
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