Asbury Automotive Group (NYSE:ABG) Price Target Lowered to $260.00 at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target lowered by JPMorgan Chase & Co. from $265.00 to $260.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Craig Hallum upped their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Bank of America decreased their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Trading Up 2.1 %

Shares of Asbury Automotive Group stock opened at $242.06 on Tuesday. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 13.70 and a beta of 1.16. Asbury Automotive Group has a fifty-two week low of $195.09 and a fifty-two 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 stock has a 50 day moving average of $229.40 and a 200 day moving average of $232.09.

Asbury Automotive Group (NYSE:ABG) last issued 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 business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.12 earnings per share. As a group, research analysts predict that Asbury Automotive Group will post 25.59 earnings per share for the current year.

Insider Activity

In other news, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Asbury Automotive Group by 1.0% in the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after buying an additional 51 shares during the last quarter. Oak Associates Ltd. OH increased its holdings in Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after buying an additional 51 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after buying an additional 60 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Asbury Automotive Group by 0.3% in the first quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock valued at $5,819,000 after buying an additional 62 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in Asbury Automotive Group by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after buying an additional 66 shares during the last quarter.

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.