Asbury Automotive Group, Inc. (NYSE:ABG) – Analysts at Jefferies Group issued their Q1 2019 earnings per share estimates for Asbury Automotive Group in a research note issued on Tuesday. Jefferies Group analyst B. Jordan expects that the company will post earnings per share of $1.99 for the quarter. Jefferies Group also issued estimates for Asbury Automotive Group’s Q2 2019 earnings at $2.11 EPS, Q3 2019 earnings at $2.05 EPS and Q4 2019 earnings at $1.95 EPS.
A number of other research firms have also recently issued reports on ABG. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price for the company in a report on Friday. Craig Hallum increased their target price on Asbury Automotive Group from $55.00 to $67.00 and gave the stock a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.40.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.21. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a return on equity of 42.06% and a net margin of 2.15%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS.
Several institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Asbury Automotive Group by 10.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 9,013 shares of the company’s stock worth $577,000 after buying an additional 856 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Asbury Automotive Group by 0.8% during the 4th quarter. BlackRock Inc. now owns 2,517,622 shares of the company’s stock worth $161,128,000 after buying an additional 20,767 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Asbury Automotive Group during the 4th quarter worth about $19,860,000. Rhumbline Advisers boosted its stake in shares of Asbury Automotive Group by 12.6% during the 4th quarter. Rhumbline Advisers now owns 48,008 shares of the company’s stock worth $3,073,000 after buying an additional 5,372 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Asbury Automotive Group by 224.6% during the 4th quarter. Arizona State Retirement System now owns 31,165 shares of the company’s stock worth $1,995,000 after buying an additional 21,565 shares during the last quarter.
In other news, Director Craig T. Monaghan sold 28,575 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $68.70, for a total transaction of $1,963,102.50. Following the completion of the transaction, the director now directly owns 86,112 shares in the company, valued at approximately $5,915,894.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Craig T. Monaghan sold 15,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $68.57, for a total transaction of $1,028,550.00. Following the transaction, the director now owns 86,112 shares of the company’s stock, valued at $5,904,699.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,075 shares of company stock valued at $3,090,893. Company insiders own 11.90% of the company’s stock.
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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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