Asbury Automotive Group (NYSE:ABG) Stock Price Passes Above 200-Day Moving Average - What's Next?

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $240.30 and traded as high as $248.60. Asbury Automotive Group shares last traded at $248.39, with a volume of 171,341 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABG. StockNews.com raised shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Craig Hallum increased their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Stock Up 0.4 %

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 company has a market capitalization of $4.89 billion, a PE ratio of 14.13 and a beta of 1.19. The firm's 50-day simple moving average is $252.69 and its 200 day simple moving average is $240.44.

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

Institutional Investors Weigh In On Asbury Automotive Group

A number of large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Asbury Automotive Group in the third quarter valued at about $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth $38,000. GAMMA Investing LLC grew its position in shares of Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company's stock valued at $94,000 after purchasing an additional 101 shares during the period. Seven Eight Capital LP acquired a new position in Asbury Automotive Group in the second quarter valued at $212,000. Finally, MML Investors Services LLC purchased a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $222,000.

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.