Asbury Automotive Group (NYSE:ABG) Raised to Buy at StockNews.com

Asbury Automotive Group (NYSE:ABGGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Other analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Asbury Automotive Group from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $185.00 to $152.00 in a report on Friday, May 20th. JPMorgan Chase & Co. lowered their target price on shares of Asbury Automotive Group from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $206.75.

ABG traded up $1.69 during trading on Thursday, hitting $166.36. 138,974 shares of the company’s stock were exchanged, compared to its average volume of 284,196. The company has a quick ratio of 0.70, a current ratio of 1.14 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $176.11 and its two-hundred day moving average is $173.21. Asbury Automotive Group has a fifty-two week low of $146.43 and a fifty-two week high of $230.96. The stock has a market cap of $3.68 billion, a P/E ratio of 5.17, a PEG ratio of 0.25 and a beta of 1.20.

Asbury Automotive Group (NYSE:ABGGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.92 by $0.35. Asbury Automotive Group had a net margin of 5.86% and a return on equity of 39.72%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company posted $4.68 earnings per share. The business’s revenue was up 78.4% on a year-over-year basis. On average, sell-side analysts forecast that Asbury Automotive Group will post 35.18 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its position in Asbury Automotive Group by 3.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,995 shares of the company’s stock valued at $960,000 after buying an additional 200 shares during the period. Bank of America Corp DE grew its position in Asbury Automotive Group by 3.2% during the first quarter. Bank of America Corp DE now owns 201,038 shares of the company’s stock valued at $32,207,000 after buying an additional 6,153 shares during the period. Verition Fund Management LLC bought a new position in Asbury Automotive Group during the first quarter valued at about $691,000. Walleye Capital LLC bought a new position in Asbury Automotive Group during the first quarter valued at about $632,000. Finally, Capital Research Global Investors grew its position in Asbury Automotive Group by 35.4% during the first quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock valued at $121,929,000 after buying an additional 198,985 shares during the period.

Asbury Automotive Group Company Profile (Get Rating)

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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