Asbury Automotive Group (NYSE:ABG) Reaches New 1-Year Low – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $186.27 and last traded at $189.4850, with a volume of 422748 shares trading hands. The stock had previously closed at $189.11.

Wall Street Analyst Weigh In

ABG has been the subject of several recent analyst reports. Bank of America initiated coverage on Asbury Automotive Group in a research note on Wednesday, March 4th. They set a “buy” rating for the company. Morgan Stanley set a $230.00 price target on Asbury Automotive Group in a research note on Monday, December 8th. Barclays cut their price target on Asbury Automotive Group from $250.00 to $230.00 and set a “reduce” rating on the stock in a report on Friday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Asbury Automotive Group from $235.00 to $240.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Weiss Ratings lowered shares of Asbury Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $248.29.

Asbury Automotive Group Price Performance

The stock has a market cap of $3.56 billion, a PE ratio of 7.38 and a beta of 0.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.35 and a current ratio of 0.95. The business has a 50 day moving average price of $223.63 and a two-hundred day moving average price of $233.77.

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

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, Director B. Christopher Disantis bought 500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were bought at an average cost of $202.30 per share, for a total transaction of $101,150.00. Following the purchase, the director directly owned 5,400 shares of the company’s stock, valued at approximately $1,092,420. This trade represents a 10.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.59% of the stock is owned by insiders.

Institutional Trading of Asbury Automotive Group

A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in Asbury Automotive Group in the fourth quarter worth about $25,000. Quarry LP grew its position in shares of Asbury Automotive Group by 319.2% during the 3rd quarter. Quarry LP now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 83 shares during the period. Torren Management LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth approximately $27,000. Bogart Wealth LLC increased its stake in shares of Asbury Automotive Group by 52.4% during the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of Asbury Automotive Group by 76.0% in the 4th quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock worth $32,000 after purchasing an additional 57 shares during the period.

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.