Asbury Automotive Group (NYSE:ABG) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $240.30 and traded as high as $248.60. Asbury Automotive Group shares last traded at $248.39, with a volume of 171,341 shares traded.

Wall Street Analyst Weigh In

ABG has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Craig Hallum raised their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating and one has given 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 $256.20.

Asbury Automotive Group Price Performance

The business’s fifty day moving average is $252.69 and its 200 day moving average is $240.44. The firm has a market capitalization of $4.87 billion, a P/E ratio of 14.06 and a beta of 1.19. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $8.12 EPS. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, analysts forecast that Asbury Automotive Group, Inc. will post 25.17 EPS for the current year.

Institutional Investors Weigh In On Asbury Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group during the third quarter valued at about $31,000. Quarry LP bought a new position in Asbury Automotive Group in the 2nd quarter valued at $38,000. GAMMA Investing LLC raised its stake in shares of Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after buying an additional 101 shares during the last quarter. Seven Eight Capital LP acquired a new position in Asbury Automotive Group in the second quarter valued at about $212,000. Finally, MML Investors Services LLC acquired a new stake in Asbury Automotive Group during the 3rd quarter worth $222,000.

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.