Asbury Automotive Group (NYSE:ABG) Posts Quarterly Earnings Results, Beats Estimates By $1.22 EPS

Asbury Automotive Group (NYSE:ABG) announced its earnings results on Thursday. The company reported $7.26 EPS for the quarter, beating the consensus estimate of $6.04 by $1.22, Zacks reports. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%.

Asbury Automotive Group Stock Up 9.2 %

Shares of ABG traded up $25.19 on Thursday, reaching $299.50. The company’s stock had a trading volume of 167,562 shares, compared to its average volume of 170,545. Asbury Automotive Group has a twelve month low of $195.09 and a twelve month high of $307.69. The stock has a market capitalization of $5.87 billion, a PE ratio of 16.76 and a beta of 1.19. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a fifty day moving average of $252.52 and a 200-day moving average of $242.52.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABG. Bank of America cut their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. 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. 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. Finally, JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $255.20.

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.