Asbury Automotive Group, Inc. (NYSE:ABG) Receives $264.00 Average Price Target from Brokerages

Asbury Automotive Group, Inc. (NYSE:ABG) has received an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $264.00.

A number of research analysts recently issued reports on ABG shares. Craig Hallum downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, Stephens raised their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th.

Insider Buying and Selling at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at $1,111,510.08. This represents a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in ABG. Madison Investment Advisors LLC purchased a new position in Asbury Automotive Group during the 4th quarter valued at approximately $82,426,000. Norges Bank bought a new position in shares of Asbury Automotive Group during the 4th quarter valued at approximately $82,079,000. Artisan Partners Limited Partnership purchased a new position in shares of Asbury Automotive Group in the fourth quarter valued at $51,118,000. Natixis Advisors LLC bought a new stake in Asbury Automotive Group in the third quarter worth $26,573,000. Finally, Eminence Capital LP raised its stake in Asbury Automotive Group by 15.8% during the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock valued at $191,453,000 after purchasing an additional 107,317 shares in the last quarter.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $234.03 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a 50-day simple moving average of $268.14 and a two-hundred day simple moving average of $250.50. The firm has a market capitalization of $4.60 billion, a PE ratio of 10.88 and a beta of 1.22. Asbury Automotive Group has a 52-week low of $206.62 and a 52-week high of $312.56.

Asbury Automotive Group Company Profile

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.