Asbury Automotive Group (NYSE:ABG) Stock Price Down 4.2%

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price traded down 4.2% during trading on Tuesday . The stock traded as low as $212.43 and last traded at $213.93. 21,467 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 174,519 shares. The stock had previously closed at $223.21.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley lifted their price target on Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday. They issued an “equal weight” rating and a $216.00 target price for the company. 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 note on Tuesday. Finally, StockNews.com cut shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $225.25.

Asbury Automotive Group Price Performance

The stock has a market cap of $4.33 billion, a PE ratio of 7.81 and a beta of 1.16. 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’s fifty day moving average is $238.42 and its 200 day moving average is $228.96.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Friday, August 2nd. The company reported $6.40 earnings per share for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm posted $8.95 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 27.06 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Asbury Automotive Group

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Asbury Automotive Group during the fourth quarter worth about $67,417,000. Eminence Capital LP raised its stake in Asbury Automotive Group by 41.5% during the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after buying an additional 146,246 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Asbury Automotive Group by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after buying an additional 69,975 shares during the last quarter. Khrom Capital Management LLC acquired a new position in shares of Asbury Automotive Group in the 2nd quarter worth approximately $14,572,000. Finally, GCM Grosvenor Holdings LLC grew its position in shares of Asbury Automotive Group by 250.8% in the 2nd quarter. GCM Grosvenor Holdings LLC now owns 73,000 shares of the company’s stock worth $16,635,000 after acquiring an additional 52,191 shares in the last quarter.

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.