Stephens Begins Coverage on Asbury Automotive Group (NYSE:ABG)

Stephens initiated coverage on shares of Asbury Automotive Group (NYSE:ABG) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $216.00 price target on the stock.

Several other analysts have also issued reports on ABG. JPMorgan Chase & Co. increased their price target on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a neutral rating in a research report on Tuesday, September 10th. Morgan Stanley increased their price target on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the stock an underweight rating in a research report on Wednesday, August 14th. Finally, StockNews.com lowered shares of Asbury Automotive Group from a hold rating to a sell rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $225.25.

Asbury Automotive Group Stock Up 4.1 %

Shares of ABG opened at $221.70 on Thursday. Asbury Automotive Group has a 12 month low of $178.40 and a 12 month high of $277.13. The firm’s 50 day moving average is $237.88 and its 200-day moving average is $228.82. The stock has a market capitalization of $4.43 billion, a PE ratio of 8.08 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $8.95 earnings per share. Equities research analysts forecast that Asbury Automotive Group will post 26.99 EPS for the current year.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now owns 56,834 shares in the company, valued at $12,911,548.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now owns 56,834 shares in the company, valued at approximately $12,911,548.12. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds have recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter worth $28,000. AXS Investments LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter worth $38,000. Quarry LP acquired a new position in shares of Asbury Automotive Group during the second quarter worth $38,000. GAMMA Investing LLC lifted its holdings in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after purchasing an additional 146 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Asbury Automotive Group during the second quarter worth $155,000.

Asbury Automotive Group Company Profile

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.