Asbury Automotive Group (NYSE:ABG) PT Raised to $95.00

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Asbury Automotive Group (NYSE:ABG) had its target price lifted by Morgan Stanley from $86.00 to $95.00 in a research report released on Friday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded Asbury Automotive Group from a hold rating to a buy rating and set a $103.00 target price for the company in a report on Thursday, August 1st. ValuEngine downgraded Asbury Automotive Group from a buy rating to a hold rating in a report on Thursday, August 1st. Craig Hallum upped their target price on Asbury Automotive Group from $90.00 to $110.00 and gave the company a buy rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on Asbury Automotive Group from $85.00 to $88.00 and gave the company a neutral rating in a report on Tuesday, July 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $90.00.

Shares of ABG stock opened at $91.17 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.20 and a debt-to-equity ratio of 1.68. Asbury Automotive Group has a fifty-two week low of $58.60 and a fifty-two week high of $95.14. The company has a 50 day moving average of $85.59. The company has a market capitalization of $1.78 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.70 and a beta of 1.25.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.11. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.80 billion. Asbury Automotive Group had a return on equity of 35.08% and a net margin of 2.57%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 earnings per share. On average, equities analysts forecast that Asbury Automotive Group will post 9.19 EPS for the current year.

In related news, Director Thomas C. Deloach, Jr. sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $91.71, for a total value of $733,680.00. Following the sale, the director now directly owns 17,703 shares of the company’s stock, valued at $1,623,542.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William Frederick Stax sold 424 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $90.35, for a total value of $38,308.40. Following the completion of the sale, the vice president now directly owns 3,464 shares in the company, valued at $312,972.40. The disclosure for this sale can be found here. 1.36% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its stake in Asbury Automotive Group by 26.1% in the first quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after purchasing an additional 209 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Asbury Automotive Group in the first quarter worth $110,000. Denali Advisors LLC grew its stake in Asbury Automotive Group by 3,991.5% in the first quarter. Denali Advisors LLC now owns 1,923 shares of the company’s stock worth $133,000 after purchasing an additional 1,876 shares during the period. Convergence Investment Partners LLC purchased a new stake in Asbury Automotive Group in the second quarter worth $182,000. Finally, 6 Meridian purchased a new stake in Asbury Automotive Group in the first quarter worth $205,000.

About Asbury Automotive Group

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.

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Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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