Insider Selling: Asbury Automotive Group, Inc. (NYSE:ABG) Director Sells 8,000 Shares of Stock

Asbury Automotive Group, Inc. (NYSE:ABG) Director Thomas C. Deloach, Jr. sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $91.71, for a total value of $733,680.00. Following the transaction, the director now owns 17,703 shares in the company, valued at approximately $1,623,542.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

ABG stock traded up $0.68 during trading hours on Friday, hitting $92.16. 132,208 shares of the stock were exchanged, compared to its average volume of 158,017. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 0.71 and a beta of 1.25. The firm has a 50-day moving average price of $84.64. Asbury Automotive Group, Inc. has a 12 month low of $58.60 and a 12 month high of $95.14.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. Asbury Automotive Group had a return on equity of 36.34% and a net margin of 2.57%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $2.08 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group, Inc. will post 9.19 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. bought a new stake in Asbury Automotive Group during the second quarter worth $261,000. Swiss National Bank grew its holdings in Asbury Automotive Group by 1.4% during the second quarter. Swiss National Bank now owns 36,500 shares of the company’s stock worth $3,078,000 after buying an additional 500 shares in the last quarter. Aperio Group LLC grew its holdings in Asbury Automotive Group by 5.6% during the second quarter. Aperio Group LLC now owns 8,985 shares of the company’s stock worth $758,000 after buying an additional 474 shares in the last quarter. First Trust Advisors LP grew its holdings in Asbury Automotive Group by 37.8% during the second quarter. First Trust Advisors LP now owns 26,294 shares of the company’s stock worth $2,218,000 after buying an additional 7,218 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Asbury Automotive Group by 15.2% during the second quarter. Janney Montgomery Scott LLC now owns 32,494 shares of the company’s stock worth $2,741,000 after buying an additional 4,297 shares in the last quarter.

Several research analysts have weighed in on ABG shares. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Thursday. ValuEngine cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley increased their price objective on Asbury Automotive Group from $86.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on Asbury Automotive Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Finally, Craig Hallum increased their price objective on Asbury Automotive Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $90.00.

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.

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