Asbury Automotive Group (NYSE:ABG) Issues Quarterly Earnings Results

Asbury Automotive Group (NYSE:ABG) posted its quarterly earnings results on Tuesday. The company reported $6.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.84 by ($0.02), Zacks reports. Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the company earned $7.21 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis.

Asbury Automotive Group Stock Performance

ABG traded down $11.61 during midday trading on Tuesday, reaching $212.85. The company had a trading volume of 74,622 shares, compared to its average volume of 201,756. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average of $236.52 and a two-hundred day moving average of $249.62. The company has a market cap of $4.18 billion, a P/E ratio of 9.90 and a beta of 1.04. Asbury Automotive Group has a 1 year low of $201.68 and a 1 year high of $312.56.

Analysts Set New Price Targets

ABG has been the subject of a number of analyst reports. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens increased their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup initiated coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $258.50.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

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.