Craig Hallum Raises Asbury Automotive Group (NYSE:ABG) Price Target to $260.00

Asbury Automotive Group (NYSE:ABG - Get Free Report) had its target price increased by Craig Hallum from $240.00 to $260.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "hold" rating on the stock. Craig Hallum's price target indicates a potential upside of 11.61% from the stock's current price.

Several other brokerages have also recently commented on ABG. JPMorgan Chase & Co. raised their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. StockNews.com lowered Asbury Automotive Group from a "hold" rating to a "sell" rating in a research note on Monday, August 12th. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $216.00 price objective for the company. Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Bank of America dropped their price target on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $257.20.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock traded up $1.53 on Wednesday, reaching $232.95. 109,380 shares of the stock were exchanged, compared to its average volume of 184,711. The company has a current ratio of 1.25, a quick ratio of 0.45 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $4.70 billion, a PE ratio of 8.58 and a beta of 1.16. Asbury Automotive Group has a 1-year low of $186.29 and a 1-year high of $277.13. The business has a fifty day moving average price of $229.88 and a two-hundred day moving average price of $231.40.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts' consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The firm's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.12 earnings per share. As a group, research analysts anticipate that Asbury Automotive Group will post 26.01 earnings per share for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares of the company's stock, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total transaction of $1,884,687.39. Following the transaction, the insider now directly owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Hult sold 500 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company's stock, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group during the 3rd quarter worth approximately $31,000. Quarry LP acquired a new position in shares of Asbury Automotive Group during the 2nd quarter valued at $38,000. GAMMA Investing LLC lifted its holdings in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company's stock valued at $67,000 after acquiring an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter valued at $155,000. Finally, Headlands Technologies LLC purchased a new position in Asbury Automotive Group in the second quarter valued at about $190,000.

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.