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.
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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