Asbury Automotive Group, Inc. (NYSE:ABG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Asbury Automotive Group, Inc. (NYSE:ABG) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $264.00.

Several equities research analysts have commented on the company. Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Stephens upped their price target on shares of 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, January 17th.

Asbury Automotive Group Price Performance

ABG stock opened at $234.03 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The firm has a 50 day moving average price of $268.14 and a 200-day moving average price of $250.50. Asbury Automotive Group has a 52-week low of $206.62 and a 52-week high of $312.56. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 10.88 and a beta of 1.22.

Insider Activity

In related news, COO Daniel Clara sold 1,217 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the stock. Madison Investment Advisors LLC purchased a new stake in Asbury Automotive Group during the fourth quarter valued at $82,426,000. Norges Bank purchased a new stake in shares of Asbury Automotive Group during the 4th quarter valued at about $82,079,000. Artisan Partners Limited Partnership bought a new position in shares of Asbury Automotive Group in the 4th quarter worth approximately $51,118,000. Natixis Advisors LLC bought a new position in shares of Asbury Automotive Group in the 3rd quarter worth approximately $26,573,000. Finally, Eminence Capital LP boosted its holdings in shares of Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock worth $191,453,000 after buying an additional 107,317 shares during 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.