Asbury Automotive Group (NYSE:ABG) Shares Gap Up to $230.24

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $230.24, but opened at $236.02. Asbury Automotive Group shares last traded at $235.30, with a volume of 8,843 shares.

Wall Street Analyst Weigh In

ABG has been the topic of several research reports. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an "equal weight" rating and a $216.00 price target on the stock. StockNews.com lowered shares of Asbury Automotive Group from a "hold" rating to a "sell" rating in a report on Monday, August 12th. Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $190.00 to $240.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Asbury Automotive Group from $230.00 to $265.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $237.75.

Asbury Automotive Group Trading Up 0.7 %

The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. The firm's 50 day moving average is $235.78 and its two-hundred day moving average is $229.91. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 8.45 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share for the quarter, missing analysts' consensus estimates of $7.31 by ($0.91). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the company posted $8.95 earnings per share. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO David W. Hult sold 500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now owns 56,834 shares of the company's stock, valued at $12,911,548.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm's 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 completion of the transaction, the insider now owns 2,008,649 shares of the company's stock, valued at $453,211,473.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of ABG. Vanguard Group Inc. lifted its stake in Asbury Automotive Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,319,293 shares of the company's stock valued at $521,771,000 after purchasing an additional 10,656 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company's stock valued at $240,818,000 after buying an additional 69,975 shares in the last quarter. Eminence Capital LP increased its holdings in shares of Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company's stock valued at $113,603,000 after purchasing an additional 146,246 shares during the period. Norges Bank purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $67,417,000. Finally, Brave Warrior Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 1.1% during the fourth quarter. Brave Warrior Advisors LLC now owns 278,367 shares of the company's stock worth $62,624,000 after purchasing an additional 3,101 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.