Asbury Automotive Group (NYSE:ABG) Lowered to “Hold” Rating by Craig Hallum

Asbury Automotive Group (NYSE:ABG) was downgraded by equities research analysts at Craig Hallum from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on ABG. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Stephens raised their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and an average price target of $264.00.

Asbury Automotive Group Price Performance

ABG opened at $294.55 on Tuesday. The company’s 50-day simple moving average is $263.90 and its two-hundred day simple moving average is $247.37. Asbury Automotive Group has a 52-week low of $202.98 and a 52-week high of $312.56. The stock has a market capitalization of $5.77 billion, a P/E ratio of 13.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Insider Transactions at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Asbury Automotive Group during the 4th quarter valued at $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Asbury Automotive Group in the third quarter valued at about $31,000. CIBC Private Wealth Group LLC boosted its stake in shares of Asbury Automotive Group by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after acquiring an additional 41 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock valued at $147,000 after purchasing an additional 443 shares during the period.

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.