Asbury Automotive Group (NYSE:ABG) Price Target Cut to $255.00 by Analysts at JPMorgan Chase & Co.

Asbury Automotive Group (NYSE:ABG) had its price objective cut by JPMorgan Chase & Co. from $260.00 to $255.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on ABG. Bank of America lowered their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Craig Hallum boosted their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $255.20.

Asbury Automotive Group Stock Down 0.3 %

ABG stock opened at $244.72 on Friday. The company has a 50 day moving average price of $251.88 and a two-hundred day moving average price of $240.66. 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 market capitalization of $4.79 billion, a P/E ratio of 13.85 and a beta of 1.19. Asbury Automotive Group has a one year low of $195.09 and a one year high of $277.13.

Asbury Automotive Group (NYSE:ABG) last released 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 business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company posted $8.12 earnings per share. As a group, sell-side analysts expect that Asbury Automotive Group will post 25.17 EPS for the current year.

Institutional Investors Weigh In On Asbury Automotive Group

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its position in Asbury Automotive Group by 0.5% during the 3rd quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after acquiring an additional 3,672 shares in the last quarter. Eminence Capital LP raised its stake in shares of 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. Assenagon Asset Management S.A. lifted its position in shares of Asbury Automotive Group by 366.1% during 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 in the last quarter. Natixis Advisors LLC purchased a new position in shares of Asbury Automotive Group in the third quarter valued at $26,573,000. Finally, GCM Grosvenor Holdings LLC grew its holdings in Asbury Automotive Group by 250.8% during the 2nd quarter. GCM Grosvenor Holdings LLC now owns 73,000 shares of the company’s stock valued at $16,635,000 after purchasing an additional 52,191 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.