Asbury Automotive Group, Inc. (NYSE:ABG) Receives $256.20 Average Price Target from Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) has been given an average rating of "Hold" by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $256.20.

Several equities analysts have recently commented on ABG shares. Craig Hallum upped their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Bank of America dropped their target price 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 increased their target price for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. Finally, Stephens initiated coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $216.00 target price on the stock.

Asbury Automotive Group Stock Performance

ABG traded up $0.33 on Tuesday, reaching $265.35. The stock had a trading volume of 283,594 shares, compared to its average volume of 183,834. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13. 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 business's 50-day moving average price is $241.65 and its two-hundred day moving average price is $237.04. The company has a market cap of $5.20 billion, a P/E ratio of 15.00 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm's revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.12 EPS. Sell-side analysts forecast that Asbury Automotive Group will post 25.17 earnings per share for the current year.

Institutional Trading of Asbury Automotive Group

Several hedge funds have recently made changes to their positions in ABG. Janus Henderson Group PLC increased its holdings in Asbury Automotive Group by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 10,980 shares of the company's stock valued at $2,588,000 after acquiring an additional 60 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Asbury Automotive Group by 56.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,446 shares of the company's stock valued at $333,000 after acquiring an additional 521 shares in the last quarter. Tidal Investments LLC purchased a new position in Asbury Automotive Group during the 1st quarter valued at about $537,000. Boston Partners purchased a new position in Asbury Automotive Group during the 1st quarter valued at about $878,000. Finally, GAMMA Investing LLC grew its holdings in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after buying an additional 146 shares in 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.