Asbury Automotive Group, Inc. (NYSE:ABG - Get Free Report) SVP Jed Milstein sold 948 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total value of $237,265.44. Following the completion of the sale, the senior vice president directly owned 11,259 shares in the company, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Asbury Automotive Group Stock Performance
Asbury Automotive Group stock opened at $231.40 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.29 and a current ratio of 0.94. The stock has a fifty day moving average of $206.23 and a two-hundred day moving average of $209.49. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.90 and a beta of 0.74. Asbury Automotive Group, Inc. has a fifty-two week low of $172.01 and a fifty-two week high of $263.38.
Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts' consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.The company had revenue of $4.38 billion during the quarter, compared to analysts' expectations of $4.49 billion. During the same period in the previous year, the firm posted $7.43 earnings per share. The business's revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts anticipate that Asbury Automotive Group, Inc. will post 26.39 EPS for the current fiscal year.
Hedge Funds Weigh In On Asbury Automotive Group
Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Asbury Automotive Group during the fourth quarter worth about $77,963,000. Thrivent Financial for Lutherans boosted its stake in Asbury Automotive Group by 106.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company's stock worth $68,842,000 after buying an additional 152,669 shares during the last quarter. Woodline Partners LP purchased a new stake in Asbury Automotive Group in the 3rd quarter valued at about $32,684,000. Goldman Sachs Group Inc. grew its holdings in Asbury Automotive Group by 49.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company's stock valued at $61,561,000 after buying an additional 91,767 shares during the period. Finally, J. Goldman & Co LP acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $12,761,000.
Analyst Ratings Changes
Several brokerages recently weighed in on ABG. Citigroup boosted their target price on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $235.00 to $220.00 and set an "underweight" rating for the company in a report on Thursday, May 7th. Morgan Stanley set a $220.00 price objective on shares of Asbury Automotive Group in a research report on Thursday, May 7th. Finally, UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $249.57.
View Our Latest Research Report on ABG
About Asbury Automotive Group
(
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Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.
In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.
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