Asbury Automotive Group Inc (NYSE:ABG) Stock Rating Lowered by BidaskClub

Asbury Automotive Group Inc (NYSE:ABG) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, July 31st.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Deutsche Bank AG restated a “hold” rating and issued a $60.00 price objective (down previously from $68.00) on shares of Asbury Automotive Group in a research report on Thursday, June 22nd. ValuEngine cut shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley dropped their price objective on shares of Asbury Automotive Group from $56.00 to $53.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Finally, Craig Hallum restated a “hold” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.80.

Asbury Automotive Group (NYSE ABG) opened at 50.65 on Monday. Asbury Automotive Group has a 12 month low of $47.50 and a 12 month high of $71.00. The stock’s 50 day moving average price is $54.57 and its 200 day moving average price is $58.80. The firm has a market capitalization of $1.06 billion, a PE ratio of 6.59 and a beta of 1.42.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 25th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.67 by $0.09. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Asbury Automotive Group had a return on equity of 46.58% and a net margin of 2.53%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. Equities research analysts expect that Asbury Automotive Group will post $6.34 earnings per share for the current fiscal year.

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In other Asbury Automotive Group news, COO David W. Hult sold 12,500 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total transaction of $716,750.00. Following the completion of the sale, the chief operating officer now owns 41,911 shares in the company, valued at approximately $2,403,176.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Karolis sold 2,743 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $55.98, for a total transaction of $153,553.14. Following the sale, the senior vice president now owns 5,083 shares of the company’s stock, valued at approximately $284,546.34. The disclosure for this sale can be found here. Insiders have sold a total of 120,687 shares of company stock valued at $6,277,892 in the last quarter. Corporate insiders own 11.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of Asbury Automotive Group by 9.2% in the first quarter. First Trust Advisors LP now owns 24,849 shares of the company’s stock valued at $1,493,000 after buying an additional 2,091 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Asbury Automotive Group by 35.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,640 shares of the company’s stock valued at $639,000 after buying an additional 2,777 shares during the last quarter. Chicago Equity Partners LLC raised its position in shares of Asbury Automotive Group by 1.1% in the first quarter. Chicago Equity Partners LLC now owns 17,660 shares of the company’s stock valued at $1,061,000 after buying an additional 190 shares during the period. LSV Asset Management raised its position in shares of Asbury Automotive Group by 61.7% in the first quarter. LSV Asset Management now owns 104,000 shares of the company’s stock valued at $6,250,000 after buying an additional 39,700 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in shares of Asbury Automotive Group by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 26,916 shares of the company’s stock valued at $1,617,000 after buying an additional 974 shares during the period. Institutional investors own 99.89% of the company’s stock.

About Asbury Automotive Group

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.

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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