JPMorgan Chase & Co. Lowers Asbury Automotive Group (NYSE:ABG) Price Target to $250.00

Asbury Automotive Group (NYSE:ABG - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $290.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.16% from the stock's current price.

ABG has been the subject of several other research reports. Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Stephens raised their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $263.00.

Asbury Automotive Group Trading Up 0.4 %

ABG traded up $0.83 during trading on Thursday, reaching $219.00. 199,029 shares of the company's stock were exchanged, compared to its average volume of 189,957. The firm has a fifty day moving average price of $266.44 and a two-hundred day moving average price of $250.55. The stock has a market capitalization of $4.30 billion, a PE ratio of 10.14 and a beta of 1.22. Asbury Automotive Group has a one year low of $206.62 and a one year high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in Asbury Automotive Group in the 4th quarter valued at about $25,000. CIBC Private Wealth Group LLC increased its holdings in shares of Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after purchasing an additional 351 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after purchasing an additional 443 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Asbury Automotive Group by 801.4% in the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after purchasing an additional 561 shares during the period.

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.