Asbury Automotive Group (NYSE:ABG) Stock Price Expected to Rise, Barclays Analyst Says

Asbury Automotive Group (NYSE:ABG) had its price objective upped by Barclays from $230.00 to $235.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 20.11% from the company’s previous close.

A number of other brokerages have also recently weighed in on ABG. Bank of America initiated coverage on shares of Asbury Automotive Group in a research note on Wednesday, March 4th. They set a “buy” rating for the company. 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. 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 note on Friday, March 20th. Finally, Morgan Stanley set a $230.00 price objective on shares of Asbury Automotive Group in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $249.00.

Asbury Automotive Group Price Performance

Shares of ABG traded up $0.26 during mid-day trading on Tuesday, reaching $195.66. 45,680 shares of the company’s stock were exchanged, compared to its average volume of 216,906. The company has a quick ratio of 0.35, a current ratio of 0.95 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $212.18 and a two-hundred day simple moving average of $229.23. Asbury Automotive Group has a 52-week low of $184.61 and a 52-week high of $274.50. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 7.80 and a beta of 0.80.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Thursday, February 5th. The company reported $6.67 earnings per share 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 business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the business earned $7.26 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Asbury Automotive Group will post 26.28 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis purchased 500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $202.30 per share, for a total transaction of $101,150.00. Following the acquisition, the director directly owned 5,400 shares in the company, valued at $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asbury Automotive Group

A number of hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC boosted its holdings in shares of Asbury Automotive Group by 52.4% in the 4th quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Asbury Automotive Group by 0.4% in the 4th quarter. State of Alaska Department of Revenue now owns 10,983 shares of the company’s stock valued at $2,553,000 after purchasing an additional 47 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Asbury Automotive Group by 2.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,937 shares of the company’s stock valued at $450,000 after purchasing an additional 50 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Asbury Automotive Group by 1.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,130 shares of the company’s stock valued at $731,000 after purchasing an additional 54 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Asbury Automotive Group by 69.2% in the 2nd quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock valued at $31,000 after purchasing an additional 54 shares during the last quarter.

Asbury Automotive Group Company Profile

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.