JPMorgan Chase & Co. Issues Pessimistic Forecast for Asbury Automotive Group (NYSE:ABG) Stock Price

Asbury Automotive Group (NYSE:ABG) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $290.00 to $250.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 14.81% from the company’s previous close.

Other analysts have also issued research reports about the company. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens upped their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $263.00.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $217.75 on Thursday. Asbury Automotive Group has a 12 month low of $206.62 and a 12 month high of $312.56. The company’s fifty day simple moving average is $266.44 and its 200-day simple moving average is $250.31. The firm has a market cap of $4.28 billion, a PE ratio of 10.12 and a beta of 1.22. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Insider Transactions at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the sale, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds have recently bought and sold shares of ABG. Madison Investment Advisors LLC bought a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $82,426,000. Norges Bank acquired a new stake in Asbury Automotive Group in the 4th quarter worth about $82,079,000. Artisan Partners Limited Partnership bought a new stake in Asbury Automotive Group in the 4th quarter valued at about $51,118,000. Eminence Capital LP grew its position in shares of Asbury Automotive Group by 15.8% during the 4th quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after purchasing an additional 107,317 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Asbury Automotive Group during the third quarter worth approximately $14,219,000.

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.