Asbury Automotive Group (NYSE:ABG) Given New $260.00 Price Target at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price target decreased by analysts at JPMorgan Chase & Co. from $265.00 to $260.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.71% from the stock’s previous close.

Several other research analysts have also commented on ABG. Bank of America dropped their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Craig Hallum upped their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price on the stock. Finally, Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Trading Up 3.9 %

Asbury Automotive Group stock opened at $236.98 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a 12 month low of $195.09 and a 12 month high of $277.13. The company’s fifty day simple moving average is $229.37 and its 200-day simple moving average is $231.90. The stock has a market cap of $4.64 billion, a P/E ratio of 13.41 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $8.12 earnings per share. As a group, sell-side analysts forecast that Asbury Automotive Group will post 25.59 EPS for the current fiscal year.

Insider Buying and Selling at Asbury Automotive Group

In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the transaction, the insider now owns 2,008,649 shares in the company, valued at $453,211,473.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Impactive Capital Lp sold 8,353 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $225.63, for a total value of $1,884,687.39. Following the transaction, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David W. Hult sold 500 shares of Asbury Automotive Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after buying an additional 69,975 shares during the period. Eminence Capital LP grew its holdings in Asbury Automotive Group by 41.5% during the second quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares during the period. Bank of New York Mellon Corp increased its stake in Asbury Automotive Group by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock valued at $45,065,000 after purchasing an additional 7,754 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Asbury Automotive Group by 366.1% in the third quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares during the period. Finally, Magnolia Group LLC boosted its position in shares of Asbury Automotive Group by 7.8% during the second quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock worth $25,066,000 after purchasing an additional 8,000 shares in 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.