Craig Hallum Raises Asbury Automotive Group (NYSE:ABG) Price Target to $260.00

Asbury Automotive Group (NYSE:ABG) had its price target increased by investment analysts at Craig Hallum from $240.00 to $260.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 14.04% from the stock’s current price.

ABG has been the topic of several other research reports. Stephens initiated coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. Bank of America cut their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on Asbury Automotive Group from $230.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. StockNews.com downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Asbury Automotive Group has an average rating of “Hold” and a consensus target price of $257.20.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $228.00 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 1.25 and a debt-to-equity ratio of 1.05. The stock has a market cap of $4.56 billion, a P/E ratio of 12.90 and a beta of 1.16. The business’s 50 day moving average price is $229.84 and its 200-day moving average price is $231.41. Asbury Automotive Group has a 52 week low of $186.29 and a 52 week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm posted $8.12 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. Equities research analysts anticipate that Asbury Automotive Group will post 26.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Asbury Automotive Group

A number of hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in Asbury Automotive Group during the third quarter worth $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $38,000. GAMMA Investing LLC grew its holdings in Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Asbury Automotive Group in the 2nd quarter worth about $155,000. Finally, Headlands Technologies LLC bought a new stake in Asbury Automotive Group in the second quarter worth about $190,000.

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.