JPMorgan Chase & Co. Lowers Asbury Automotive Group (NYSE:ABG) Price Target to $230.00

Asbury Automotive Group (NYSE:ABG) had its price target lowered by JPMorgan Chase & Co. from $235.00 to $230.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.60% from the stock’s current price.

Separately, Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research note on Thursday, February 8th.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG opened at $213.75 on Thursday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 7.79 and a beta of 1.19. Asbury Automotive Group has a one year low of $178.40 and a one year high of $256.39. The business has a fifty day simple moving average of $217.00 and a 200 day simple moving average of $213.15. The company has a current ratio of 1.06, a quick ratio of 0.45 and a debt-to-equity ratio of 0.93.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.76 by ($0.55). Asbury Automotive Group had a net margin of 3.68% and a return on equity of 20.12%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the company posted $8.37 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts expect that Asbury Automotive Group will post 30.85 EPS for the current year.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now directly owns 8,300 shares in the company, valued at $1,734,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ABG. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Asbury Automotive Group during the fourth quarter worth $28,000. DekaBank Deutsche Girozentrale acquired a new position in Asbury Automotive Group during the 3rd quarter worth about $36,000. CWM LLC grew its holdings in Asbury Automotive Group by 94.0% during the 3rd quarter. CWM LLC now owns 161 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the last quarter. AXS Investments LLC acquired a new stake in Asbury Automotive Group in the 4th quarter valued at about $38,000. Finally, GAMMA Investing LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter worth about $48,000.

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.