Brokerages Set Asbury Automotive Group (ABG) Target Price at $62.25

Asbury Automotive Group (NYSE:ABG) has been given a consensus recommendation of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $62.25.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Friday, February 9th. Morgan Stanley raised their price target on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, March 14th. Finally, Craig Hallum raised their price target on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th.

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Shares of NYSE:ABG traded down $1.60 during midday trading on Friday, reaching $66.20. The company’s stock had a trading volume of 220,999 shares, compared to its average volume of 204,077. The firm has a market capitalization of $1,387.59, a P/E ratio of 10.52, a PEG ratio of 0.82 and a beta of 1.55. Asbury Automotive Group has a twelve month low of $49.10 and a twelve month high of $76.40. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.23 and a quick ratio of 0.45.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.21. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 earnings per share. equities analysts anticipate that Asbury Automotive Group will post 7.52 EPS for the current fiscal year.

In other news, Director Craig T. Monaghan sold 28,575 shares of Asbury Automotive Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $68.70, for a total value of $1,963,102.50. Following the sale, the director now 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 can be accessed through the SEC website. Also, Director Craig T. Monaghan sold 15,000 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total transaction of $1,028,550.00. Following the completion of the sale, the director now owns 86,112 shares in the company, valued at approximately $5,904,699.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,825 shares of company stock worth $3,488,688. Company insiders own 1.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $102,000. Balter Liquid Alternatives LLC purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $200,000. Ingalls & Snyder LLC purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth about $218,000. Parametrica Management Ltd lifted its stake in shares of Asbury Automotive Group by 29.4% in the fourth quarter. Parametrica Management Ltd now owns 4,719 shares of the company’s stock worth $302,000 after buying an additional 1,071 shares in the last quarter. Finally, Koch Industries Inc. lifted its stake in shares of Asbury Automotive Group by 29.5% in the fourth quarter. Koch Industries Inc. now owns 5,200 shares of the company’s stock worth $333,000 after buying an additional 1,184 shares in the last quarter.

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About Asbury Automotive Group

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

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