Asbury Automotive Group (ABG) Hits New 1-Year High at $71.05

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price hit a new 52-week high on Tuesday . The company traded as high as $71.05 and last traded at $70.80, with a volume of 367800 shares changing hands. The stock had previously closed at $66.55.

A number of equities analysts have recently weighed in on the company. TheStreet upgraded Asbury Automotive Group from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. Zacks Investment Research downgraded Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Jefferies Group restated a “hold” rating and issued a $61.00 price objective on shares of Asbury Automotive Group in a report on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Asbury Automotive Group currently has an average rating of “Hold” and a consensus price target of $56.75.

The firm has a market capitalization of $1,490.00, a price-to-earnings ratio of 9.23, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.09). Asbury Automotive Group had a net margin of 2.54% and a return on equity of 42.24%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $1.52 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. analysts forecast that Asbury Automotive Group, Inc. will post 6.25 earnings per share for the current year.

In other Asbury Automotive Group news, CEO Craig T. Monaghan sold 16,096 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $61.08, for a total transaction of $983,143.68. Following the transaction, the chief executive officer now owns 125,408 shares in the company, valued at $7,659,920.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Craig T. Monaghan sold 48,288 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $60.96, for a total value of $2,943,636.48. Following the transaction, the chief executive officer now owns 125,408 shares in the company, valued at approximately $7,644,871.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 265,884 shares of company stock worth $16,426,020. Corporate insiders own 11.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Koch Industries Inc. bought a new stake in shares of Asbury Automotive Group in the second quarter valued at approximately $294,000. BlackRock Inc. boosted its position in shares of Asbury Automotive Group by 6.2% in the second quarter. BlackRock Inc. now owns 2,671,470 shares of the company’s stock valued at $151,072,000 after acquiring an additional 156,996 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Asbury Automotive Group by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 193,201 shares of the company’s stock valued at $11,872,000 after acquiring an additional 72,887 shares during the period. Vanguard Group Inc. boosted its position in shares of Asbury Automotive Group by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock valued at $104,055,000 after acquiring an additional 62,905 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of Asbury Automotive Group by 12.5% in the third quarter. River Road Asset Management LLC now owns 538,734 shares of the company’s stock valued at $32,917,000 after acquiring an additional 59,900 shares during the period.

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About Asbury Automotive Group

Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.

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