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

Asbury Automotive Group (NYSE:ABG) had its target price raised by Craig Hallum from $240.00 to $260.00 in a research report report published on Wednesday, Benzinga reports. Craig Hallum currently has a hold rating on the stock.

ABG has been the topic of several other reports. Bank of America lowered their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com cut 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 upped their target price for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Stephens initiated coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.20.

Asbury Automotive Group Trading Up 0.7 %

Shares of NYSE ABG opened at $233.03 on Wednesday. Asbury Automotive Group has a 12-month low of $186.29 and a 12-month high of $277.13. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 8.49 and a beta of 1.16. 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 stock’s 50 day simple moving average is $229.88 and its 200 day simple moving average is $231.40.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.12 EPS. Equities research analysts expect that Asbury Automotive Group will post 26.01 EPS for the current year.

Insider Buying and Selling

In other Asbury Automotive Group news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’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 sale, the insider now owns 2,008,649 shares in the company, valued at approximately $453,211,473.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were 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 of the company’s stock, valued at approximately $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the 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 owns 2,008,649 shares of the company’s stock, valued at approximately $453,211,473.87. 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ABG. Allspring Global Investments Holdings LLC grew its stake in shares of Asbury Automotive Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,682 shares of the company’s stock valued at $632,000 after buying an additional 227 shares in the last quarter. Norden Group LLC bought a new stake in Asbury Automotive Group in the first quarter worth approximately $895,000. Van ECK Associates Corp grew its position in Asbury Automotive Group by 42.1% in the first quarter. Van ECK Associates Corp now owns 25,869 shares of the company’s stock worth $6,100,000 after acquiring an additional 7,667 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Asbury Automotive Group by 26.4% during the 1st quarter. BNP Paribas Financial Markets now owns 20,221 shares of the company’s stock worth $4,768,000 after purchasing an additional 4,224 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Asbury Automotive Group by 379.6% during the 1st quarter. Capstone Investment Advisors LLC now owns 5,798 shares of the company’s stock valued at $1,367,000 after purchasing an additional 4,589 shares in the last quarter.

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.