Asbury Automotive Group (NYSE:ABG) Stock Price Down 4.2%

Asbury Automotive Group, Inc. (NYSE:ABG)’s stock price dropped 4.2% on Tuesday . The company traded as low as $212.43 and last traded at $213.93. Approximately 21,467 shares traded hands during trading, a decline of 88% from the average daily volume of 174,519 shares. The stock had previously closed at $223.21.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABG. JPMorgan Chase & Co. lifted their price target on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley lifted their target price on Asbury Automotive Group from $185.00 to $190.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, Stephens initiated coverage on Asbury Automotive Group in a report on Thursday. They issued an “equal weight” rating and a $216.00 price target on the stock. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $225.25.

Asbury Automotive Group Stock Performance

The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 7.81 and a beta of 1.16. The company has a 50-day moving average price of $238.42 and a 200-day moving average price of $228.96. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.31 by ($0.91). The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.31 billion. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $8.95 EPS. As a group, equities research analysts forecast that Asbury Automotive Group, Inc. will post 27.06 earnings per share for the current year.

Insider Activity at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $453,211,473.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Hult sold 500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Trading of Asbury Automotive Group

Large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in shares of Asbury Automotive Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH lifted its holdings in shares of Asbury Automotive Group by 1.4% during the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after purchasing an additional 51 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Asbury Automotive Group by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock valued at $2,588,000 after purchasing an additional 60 shares during the period. Illinois Municipal Retirement Fund increased its stake in Asbury Automotive Group by 0.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 24,680 shares of the company’s stock worth $5,819,000 after purchasing an additional 62 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in Asbury Automotive Group by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after purchasing an additional 66 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.