Recent Research Analysts’ Ratings Changes for Asbury Automotive Group (ABG)

Asbury Automotive Group (NYSE: ABG) recently received a number of ratings updates from brokerages and research firms:

  • 8/2/2019 – Asbury Automotive Group had its price target raised by analysts at Morgan Stanley from $86.00 to $95.00. They now have an “equal weight” rating on the stock.
  • 8/1/2019 – Asbury Automotive Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/1/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 7/29/2019 – Asbury Automotive Group had its price target raised by analysts at Craig Hallum from $90.00 to $110.00. They now have a “buy” rating on the stock.
  • 7/24/2019 – Asbury Automotive Group was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/10/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 7/9/2019 – Asbury Automotive Group had its price target raised by analysts at JPMorgan Chase & Co. from $85.00 to $88.00. They now have a “neutral” rating on the stock.
  • 7/8/2019 – Asbury Automotive Group was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 6/25/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $93.00 price target on the stock. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 6/24/2019 – Asbury Automotive Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 6/18/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $90.00 price target on the stock. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 6/10/2019 – Asbury Automotive Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
  • 6/7/2019 – Asbury Automotive Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $86.00 price target on the stock. According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “

Shares of NYSE:ABG traded up $1.68 during trading on Tuesday, reaching $92.85. 140,842 shares of the company traded hands, compared to its average volume of 157,770. The company has a current ratio of 1.20, a quick ratio of 0.34 and a debt-to-equity ratio of 1.68. Asbury Automotive Group, Inc. has a 1-year low of $58.60 and a 1-year high of $95.14. The company has a fifty day simple moving average of $85.59. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 0.70 and a beta of 1.25.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.11. Asbury Automotive Group had a net margin of 2.57% and a return on equity of 35.08%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that Asbury Automotive Group, Inc. will post 9.19 EPS for the current fiscal year.

In other news, Director Thomas C. Deloach, Jr. sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $91.71, for a total transaction of $733,680.00. Following the completion of the sale, the director now owns 17,703 shares in the company, valued at approximately $1,623,542.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William Frederick Stax sold 424 shares of Asbury Automotive Group stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $90.35, for a total transaction of $38,308.40. Following the completion of the sale, the vice president now owns 3,464 shares of the company’s stock, valued at approximately $312,972.40. The disclosure for this sale can be found here. Insiders sold 9,324 shares of company stock valued at $855,256 in the last ninety days. Insiders own 1.36% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its position in Asbury Automotive Group by 26.1% during the 1st quarter. Bank of Montreal Can now owns 1,010 shares of the company’s stock worth $71,000 after buying an additional 209 shares during the period. NumerixS Investment Technologies Inc bought a new stake in Asbury Automotive Group during the 1st quarter valued at $110,000. Denali Advisors LLC grew its stake in shares of Asbury Automotive Group by 3,991.5% in the 1st quarter. Denali Advisors LLC now owns 1,923 shares of the company’s stock worth $133,000 after acquiring an additional 1,876 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Asbury Automotive Group in the 2nd quarter worth $182,000. Finally, 6 Meridian bought a new position in Asbury Automotive Group during the first quarter valued at about $205,000.

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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