Asbury Automotive Group (NYSE:ABG) Sets New 52-Week High – Should You Buy?

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) reached a new 52-week high during trading on Friday . The company traded as high as $312.56 and last traded at $304.66, with a volume of 888621 shares. The stock had previously closed at $274.31.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America cut their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Craig Hallum lifted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and a consensus target price of $255.20.

Asbury Automotive Group Stock Up 11.1 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The company has a fifty day simple moving average of $253.45 and a two-hundred day simple moving average of $242.95. The firm has a market capitalization of $5.97 billion, a PE ratio of 17.24 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data 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 return on equity of 16.51% and a net margin of 2.16%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $8.12 earnings per share. Analysts forecast that Asbury Automotive Group, Inc. will post 25.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its stake in Asbury Automotive Group by 75.1% in the second quarter. Bank of Montreal Can now owns 4,201 shares of the company’s stock worth $967,000 after buying an additional 1,802 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Asbury Automotive Group in the 2nd quarter worth $641,000. The Manufacturers Life Insurance Company lifted its stake in shares of Asbury Automotive Group by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company’s stock worth $2,690,000 after purchasing an additional 99 shares during the last quarter. Algert Global LLC boosted its position in Asbury Automotive Group by 47.7% during the second quarter. Algert Global LLC now owns 5,760 shares of the company’s stock valued at $1,313,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Creative Planning grew its stake in Asbury Automotive Group by 132.1% in the second quarter. Creative Planning now owns 3,929 shares of the company’s stock valued at $895,000 after purchasing an additional 2,236 shares during the last quarter.

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.