Asbury Automotive Group (NYSE:ABG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
Separately, Craig Hallum increased their price target on Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $63.40.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. Asbury Automotive Group had a return on equity of 39.80% and a net margin of 2.15%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. sell-side analysts predict that Asbury Automotive Group will post 7.26 earnings per share for the current year.
In other Asbury Automotive Group news, Director Craig T. Monaghan sold 28,575 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $68.70, for a total transaction of $1,963,102.50. Following the sale, the director now directly owns 86,112 shares in the company, valued at $5,915,894.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Craig T. Monaghan sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total value of $1,028,550.00. Following the sale, the director now owns 86,112 shares in the company, valued at $5,904,699.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,575 shares of company stock valued at $3,057,833. 11.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new stake in Asbury Automotive Group during the fourth quarter valued at approximately $578,000. Millennium Management LLC raised its position in Asbury Automotive Group by 11.2% during the fourth quarter. Millennium Management LLC now owns 336,039 shares of the company’s stock valued at $21,506,000 after purchasing an additional 33,743 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in Asbury Automotive Group during the fourth quarter valued at approximately $102,000. Teachers Advisors LLC raised its position in Asbury Automotive Group by 2.2% during the fourth quarter. Teachers Advisors LLC now owns 34,334 shares of the company’s stock valued at $2,197,000 after purchasing an additional 744 shares during the period. Finally, Raymond James & Associates raised its position in Asbury Automotive Group by 30.7% during the fourth quarter. Raymond James & Associates now owns 57,712 shares of the company’s stock valued at $3,694,000 after purchasing an additional 13,547 shares during the period.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.