Asbury Automotive Group, Inc. (NYSE:ABG) Receives $264.00 Average Target Price from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $264.00.

Several equities analysts recently issued reports on the company. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Stephens lifted their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Craig Hallum upgraded Asbury Automotive Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $300.50 on Friday. The business’s 50-day moving average price is $262.24 and its 200-day moving average price is $246.58. 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 has a 12 month low of $202.98 and a 12 month high of $312.56. The firm has a market capitalization of $5.89 billion, a PE ratio of 13.97 and a beta of 1.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABG. Creative Planning raised its stake in Asbury Automotive Group by 5.1% during the third quarter. Creative Planning now owns 4,129 shares of the company’s stock valued at $985,000 after buying an additional 200 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Asbury Automotive Group in the 3rd quarter worth $154,270,000. Moody Aldrich Partners LLC increased its holdings in shares of Asbury Automotive Group by 17.7% in the 3rd quarter. Moody Aldrich Partners LLC now owns 10,830 shares of the company’s stock worth $2,584,000 after purchasing an additional 1,627 shares in the last quarter. Argent Capital Management LLC increased its holdings in shares of Asbury Automotive Group by 5.1% in the 3rd quarter. Argent Capital Management LLC now owns 13,287 shares of the company’s stock worth $3,170,000 after purchasing an additional 640 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Asbury Automotive Group by 366.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares in the last quarter.

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.