JPMorgan Chase & Co. Increases Asbury Automotive Group (NYSE:ABG) Price Target to $265.00

Asbury Automotive Group (NYSE:ABG) had its target price increased by analysts at JPMorgan Chase & Co. from $230.00 to $265.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.58% from the stock’s previous close.

Several other analysts have also commented on ABG. Morgan Stanley raised their price target on shares of Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. StockNews.com cut Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th.

Asbury Automotive Group Stock Down 1.0 %

Shares of ABG opened at $214.43 on Tuesday. The stock’s 50-day moving average price is $238.42 and its 200-day moving average price is $228.96. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 7.81 and a beta of 1.16. Asbury Automotive Group has a 52 week low of $178.40 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.95 EPS. On average, sell-side analysts predict that Asbury Automotive Group will post 27.06 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Asbury Automotive Group

Large investors have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in Asbury Automotive Group during the 4th quarter worth $28,000. AXS Investments LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth about $38,000. Quarry LP acquired a new position in Asbury Automotive Group during the second quarter worth about $38,000. GAMMA Investing LLC grew its stake in Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter valued at about $155,000.

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.