Asbury Automotive Group (NYSE:ABG - Get Free Report) was downgraded by stock analysts at Craig Hallum from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.
Several other analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of 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. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and an average target price of $264.00.
View Our Latest Analysis on Asbury Automotive Group
Asbury Automotive Group Stock Performance
ABG traded down $10.82 during trading on Tuesday, hitting $276.73. 157,450 shares of the stock were exchanged, compared to its average volume of 201,951. The stock has a fifty day moving average price of $265.03 and a two-hundred day moving average price of $247.97. The firm has a market capitalization of $5.42 billion, a P/E ratio of 12.87 and a beta of 1.20. Asbury Automotive Group has a 1-year low of $202.98 and a 1-year high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.
Insider Activity at Asbury Automotive Group
In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. This represents a 24.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Asbury Automotive Group by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock valued at $269,322,000 after purchasing an additional 9,688 shares in the last quarter. State Street Corp lifted its holdings in shares of Asbury Automotive Group by 0.5% during the 3rd quarter. State Street Corp now owns 801,391 shares of the company's stock worth $191,204,000 after acquiring an additional 3,672 shares during the period. Eminence Capital LP lifted its holdings in shares of Asbury Automotive Group by 15.8% during the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company's stock worth $191,453,000 after acquiring an additional 107,317 shares during the period. Timucuan Asset Management Inc. FL lifted its holdings in shares of Asbury Automotive Group by 0.5% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company's stock worth $172,035,000 after acquiring an additional 3,490 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in shares of Asbury Automotive Group during the 4th quarter worth about $82,426,000.
About Asbury Automotive Group
(
Get Free Report)
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.
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