Seaport Res Ptn Has Positive Forecast for ABG Q4 Earnings

Asbury Automotive Group, Inc. (NYSE:ABG) – Investment analysts at Seaport Res Ptn increased their Q4 2024 earnings estimates for shares of Asbury Automotive Group in a report released on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now expects that the company will earn $6.52 per share for the quarter, up from their prior forecast of $6.50. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $26.01 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s FY2025 earnings at $26.62 EPS.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the business posted $8.95 earnings per share. Asbury Automotive Group’s revenue was up 17.3% on a year-over-year basis.

Several other equities research analysts have also recently commented on the company. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. Bank of America reduced their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, StockNews.com downgraded shares of Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average price target of $251.20.

Asbury Automotive Group Stock Up 1.7 %

ABG opened at $229.69 on Wednesday. The company has a market capitalization of $4.63 billion, a PE ratio of 8.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. Asbury Automotive Group has a fifty-two week low of $178.40 and a fifty-two week high of $277.13. The business has a 50-day moving average of $230.16 and a 200-day moving average of $231.24.

Insider Transactions at Asbury Automotive Group

In related news, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the transaction, the chief executive officer now directly owns 56,834 shares in the company, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Asbury Automotive Group news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total transaction of $113,590.00. Following the completion of the sale, the chief executive officer now directly owns 56,834 shares in the company, valued at $12,911,548.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of Asbury Automotive Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds and other institutional investors have recently modified their holdings of ABG. Quarry LP bought a new stake in Asbury Automotive Group in the 2nd quarter valued at $38,000. GAMMA Investing LLC lifted its stake in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Asbury Automotive Group during the second quarter worth about $155,000. Headlands Technologies LLC bought a new position in Asbury Automotive Group during the second quarter valued at about $190,000. Finally, Innealta Capital LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at approximately $194,000.

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.