Asbury Automotive Group (NYSE:ABG) Price Target Raised to $100.00

Asbury Automotive Group (NYSE:ABG) had its target price boosted by Craig Hallum from $90.00 to $100.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the stock. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Asbury Automotive Group from a hold rating to a buy rating and set a $93.00 target price on the stock in a research note on Tuesday, June 9th. Morgan Stanley boosted their price target on shares of Asbury Automotive Group from $61.00 to $68.00 and gave the company an equal weight rating in a research report on Monday, May 18th. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $69.00 to $76.00 and gave the stock a neutral rating in a research note on Wednesday, May 6th. SunTrust Banks lifted their target price on shares of Asbury Automotive Group from $47.00 to $70.00 and gave the company a hold rating in a research note on Wednesday, May 6th. Finally, TheStreet lowered Asbury Automotive Group from a b- rating to a c+ rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $98.17.

NYSE ABG opened at $92.00 on Wednesday. Asbury Automotive Group has a 1-year low of $39.36 and a 1-year high of $123.44. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.75 and a beta of 1.62. The stock’s 50 day moving average is $76.71 and its two-hundred day moving average is $79.63. The company has a current ratio of 1.48, a quick ratio of 0.59 and a debt-to-equity ratio of 1.76.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, May 5th. The company reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.13. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.57 billion. Asbury Automotive Group had a return on equity of 28.33% and a net margin of 2.28%. Asbury Automotive Group’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. On average, analysts predict that Asbury Automotive Group will post 6.37 earnings per share for the current year.

In other news, SVP Jed Milstein sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $77.31, for a total transaction of $177,813.00. Following the transaction, the senior vice president now directly owns 13,977 shares in the company, valued at $1,080,561.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.01% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ABG. Amalgamated Bank raised its position in shares of Asbury Automotive Group by 4.0% during the fourth quarter. Amalgamated Bank now owns 3,725 shares of the company’s stock worth $416,000 after acquiring an additional 142 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Asbury Automotive Group by 22.2% in the first quarter. Mutual of America Capital Management LLC now owns 843 shares of the company’s stock valued at $47,000 after acquiring an additional 153 shares during the last quarter. Mason Street Advisors LLC increased its position in Asbury Automotive Group by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 6,739 shares of the company’s stock worth $753,000 after purchasing an additional 169 shares during the period. Guggenheim Capital LLC raised its holdings in Asbury Automotive Group by 3.4% during the 4th quarter. Guggenheim Capital LLC now owns 5,760 shares of the company’s stock worth $644,000 after purchasing an additional 192 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Asbury Automotive Group by 10.3% during the 4th quarter. Bank of Montreal Can now owns 3,104 shares of the company’s stock valued at $347,000 after purchasing an additional 290 shares during the period.

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.

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