Asbury Automotive Group (NYSE:ABG) Price Target Raised to $190.00 at Morgan Stanley

Asbury Automotive Group (NYSE:ABG) had its price objective increased by Morgan Stanley from $185.00 to $190.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

ABG has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of Asbury Automotive Group from an overweight rating to a neutral rating and set a $230.00 target price for the company. in a research report on Monday, June 10th. StockNews.com lowered shares of Asbury Automotive Group from a hold rating to a sell rating in a report on Monday.

Asbury Automotive Group Stock Up 3.8 %

Asbury Automotive Group stock traded up $8.45 during midday trading on Wednesday, hitting $231.66. 39,527 shares of the stock were exchanged, compared to its average volume of 171,476. Asbury Automotive Group has a 1 year low of $178.40 and a 1 year high of $277.13. The firm has a market cap of $4.67 billion, a P/E ratio of 8.44 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.38. The company has a 50 day moving average price of $236.92 and a two-hundred day moving average price of $226.24.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Friday, August 2nd. The company reported $6.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.31 by ($0.91). Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm earned $8.95 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that Asbury Automotive Group will post 29.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Asbury Automotive Group during the 4th quarter worth about $67,417,000. Eminence Capital LP raised its holdings in shares of Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock worth $113,603,000 after purchasing an additional 146,246 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Asbury Automotive Group by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after purchasing an additional 69,975 shares in the last quarter. Khrom Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the 2nd quarter worth approximately $14,572,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $12,855,000.

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.