Asbury Automotive Group, Inc. (NYSE:ABG) Receives $256.20 Consensus Price Target from Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $256.20.

A number of analysts have commented on the company. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Bank of America reduced their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Stephens assumed coverage on Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC increased its holdings in shares of Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after buying an additional 60 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Asbury Automotive Group by 56.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,446 shares of the company’s stock valued at $333,000 after purchasing an additional 521 shares during the period. Tidal Investments LLC purchased a new position in Asbury Automotive Group during the 1st quarter valued at about $537,000. Boston Partners purchased a new position in Asbury Automotive Group during the 1st quarter valued at about $878,000. Finally, GAMMA Investing LLC grew its holdings in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after acquiring an additional 146 shares during the period.

Asbury Automotive Group Trading Down 2.3 %

Shares of ABG opened at $259.16 on Tuesday. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 14.67 and a beta of 1.18. Asbury Automotive Group has a 52-week low of $195.09 and a 52-week high of $277.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The business’s fifty day moving average is $243.45 and its 200-day moving average is $237.56.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $8.12 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts anticipate that Asbury Automotive Group will post 25.17 EPS for the current fiscal year.

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.