Jefferies Group LLC restated their hold rating on shares of Asbury Automotive Group Inc (NYSE:ABG) in a research note released on Wednesday, July 26th. The firm currently has a $61.00 price target on the stock, down from their previous price target of $68.00. Jefferies Group also issued estimates for Asbury Automotive Group’s Q3 2017 earnings at $1.60 EPS, Q4 2017 earnings at $1.58 EPS, FY2017 earnings at $6.34 EPS, Q1 2018 earnings at $1.53 EPS, Q2 2018 earnings at $1.63 EPS, Q3 2018 earnings at $1.63 EPS, Q4 2018 earnings at $1.61 EPS and FY2018 earnings at $6.40 EPS.
A number of other analysts have also recently commented on the company. Zacks Investment Research cut Asbury Automotive Group from a hold rating to a sell rating in a research report on Monday, July 3rd. Deutsche Bank AG reiterated a hold rating and set a $60.00 price objective (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. BidaskClub upgraded Asbury Automotive Group from a sell rating to a hold rating in a research report on Saturday, June 17th. ValuEngine cut Asbury Automotive Group from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. Finally, Morgan Stanley cut their price target on Asbury Automotive Group from $56.00 to $53.00 and set an underweight rating for the company in a report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Asbury Automotive Group currently has an average rating of Hold and an average target price of $57.80.
Asbury Automotive Group (NYSE ABG) traded up 0.58% on Wednesday, hitting $52.25. The stock had a trading volume of 195,789 shares. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 6.80 and a beta of 1.42. Asbury Automotive Group has a 52 week low of $47.50 and a 52 week high of $71.00. The firm has a 50-day moving average of $55.06 and a 200 day moving average of $59.32.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. On average, analysts predict that Asbury Automotive Group will post $6.34 earnings per share for the current year.
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In other news, SVP George Karolis sold 2,743 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $55.98, for a total value of $153,553.14. Following the completion of the transaction, the senior vice president now owns 5,083 shares of the company’s stock, valued at $284,546.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Frederick Stax sold 495 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $54.25, for a total value of $26,853.75. Following the completion of the transaction, the insider now directly owns 4,586 shares of the company’s stock, valued at approximately $248,790.50. The disclosure for this sale can be found here. Insiders have sold 15,738 shares of company stock valued at $897,157 in the last three months. 11.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Asbury Automotive Group by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 820,577 shares of the company’s stock worth $46,403,000 after buying an additional 33,383 shares during the period. Globeflex Capital L P raised its position in Asbury Automotive Group by 45.1% in the second quarter. Globeflex Capital L P now owns 21,870 shares of the company’s stock worth $1,237,000 after buying an additional 6,801 shares during the period. California Public Employees Retirement System raised its position in Asbury Automotive Group by 0.7% in the second quarter. California Public Employees Retirement System now owns 81,800 shares of the company’s stock worth $4,626,000 after buying an additional 600 shares during the period. Vanguard Group Inc. raised its position in Asbury Automotive Group by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock worth $104,055,000 after buying an additional 62,905 shares during the period. Finally, Pinebridge Investments L.P. raised its position in Asbury Automotive Group by 12.1% in the second quarter. Pinebridge Investments L.P. now owns 19,143 shares of the company’s stock worth $1,082,000 after buying an additional 2,070 shares during the period. 99.89% of the stock is owned by hedge funds and other institutional investors.
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.
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