Asbury Automotive Group (NYSE:ABG) Sets New 52-Week Low – Should You Sell?

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) hit a new 52-week low on Friday . The company traded as low as $195.11 and last traded at $195.0740, with a volume of 147879 shares trading hands. The stock had previously closed at $196.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABG shares. Morgan Stanley set a $230.00 target price on shares of Asbury Automotive Group in a research note on Monday, December 8th. Barclays decreased their price target on shares of Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a research note on Friday, February 6th. Bank of America began coverage on shares of Asbury Automotive Group in a research report on Wednesday, March 4th. They set a “buy” rating on the stock. Finally, Weiss Ratings cut shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $247.57.

Asbury Automotive Group Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The stock has a 50 day simple moving average of $229.34 and a two-hundred day simple moving average of $235.91. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 7.83 and a beta of 0.81.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.70 by ($0.03). Asbury Automotive Group had a return on equity of 14.51% and a net margin of 2.73%.The company had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the business earned $7.26 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Insider Activity

In other news, Director B. Christopher Disantis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $202.30 per share, for a total transaction of $101,150.00. Following the completion of the transaction, the director owned 5,400 shares in the company, valued at approximately $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $25,000. Quarry LP lifted its holdings in Asbury Automotive Group by 319.2% in the third quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares during the last quarter. Torren Management LLC purchased a new position in Asbury Automotive Group in the fourth quarter worth approximately $27,000. Bogart Wealth LLC grew its position in Asbury Automotive Group by 52.4% in the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after acquiring an additional 44 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in Asbury Automotive Group by 76.0% during the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock worth $32,000 after acquiring an additional 57 shares during the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.