JPMorgan Chase & Co. Cuts Asbury Automotive Group (NYSE:ABG) Price Target to $255.00

Asbury Automotive Group (NYSE:ABG) had its target price trimmed by JPMorgan Chase & Co. from $260.00 to $255.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the stock. Bank of America dropped their price objective 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. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Craig Hallum raised 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. Finally, StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $255.20.

Asbury Automotive Group Stock Down 0.3 %

Shares of ABG stock opened at $244.72 on Friday. Asbury Automotive Group has a 52-week low of $195.09 and a 52-week high of $277.13. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 13.85 and a beta of 1.19. The firm’s 50-day moving average is $251.88 and its 200-day moving average is $240.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last released 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). The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $8.12 earnings per share. Sell-side analysts predict that Asbury Automotive Group will post 25.17 EPS for the current year.

Institutional Investors Weigh In On Asbury Automotive Group

Several institutional investors have recently bought and sold shares of ABG. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group in the 3rd quarter worth approximately $31,000. Quarry LP purchased a new stake in shares of Asbury Automotive Group during the second quarter valued at $38,000. GAMMA Investing LLC increased its position in shares of Asbury Automotive Group by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after acquiring an additional 101 shares during the period. Nisa Investment Advisors LLC raised its stake in Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after acquiring an additional 123 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Asbury Automotive Group during the 2nd quarter worth about $212,000.

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.