Asbury Automotive Group (NYSE:ABG) Sees Unusually-High Trading Volume - Still a Buy?

Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 169,921 shares changed hands during trading, a decline of 6% from the previous session's volume of 180,597 shares.The stock last traded at $221.98 and had previously closed at $222.87.

Analyst Ratings Changes

ABG has been the topic of a number of research reports. Bank of America decreased their price target on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Morgan Stanley upgraded Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price target on the stock. StockNews.com cut Asbury Automotive Group from a "hold" rating to a "sell" rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $251.20.

Asbury Automotive Group Stock Performance

The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 8.24 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. The firm has a 50 day moving average price of $229.87 and a 200-day moving average price of $231.27.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business posted $8.95 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.01 earnings per share for the current fiscal year.

Insider Buying and Selling 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 on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 owns 2,008,649 shares of the company's stock, valued at approximately $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Hult sold 500 shares of the firm's 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 approximately $12,911,548.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Several hedge funds have recently made changes to their positions in ABG. Quarry LP purchased a new position in shares of Asbury Automotive Group during the second quarter worth about $38,000. GAMMA Investing LLC grew its holdings in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Asbury Automotive Group during the second quarter worth about $155,000. Headlands Technologies LLC purchased a new position in shares of Asbury Automotive Group during the second quarter worth about $190,000. Finally, Innealta Capital LLC purchased a new position in shares of Asbury Automotive Group during the second quarter worth about $194,000.

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.