Asbury Automotive Group (NYSE:ABG) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Asbury Automotive Group, Inc. (NYSE:ABG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $240.30 and traded as high as $248.60. Asbury Automotive Group shares last traded at $248.39, with a volume of 171,341 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price target 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. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Bank of America cut their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Craig Hallum lifted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Price Performance

The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.87 billion, a P/E ratio of 14.06 and a beta of 1.19. The business’s 50-day moving average is $252.69 and its two-hundred day moving average is $240.44.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted $8.12 earnings per share. As a group, analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Asbury Automotive Group in the third quarter worth $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the second quarter worth approximately $38,000. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after buying an additional 101 shares during the last quarter. Seven Eight Capital LP bought a new stake in Asbury Automotive Group in the second quarter valued at approximately $212,000. Finally, MML Investors Services LLC bought a new position in shares of Asbury Automotive Group in the third quarter worth approximately $222,000.

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.