Zacks Investment Research upgraded shares of Asbury Automotive Group (NYSE:ABG) from a hold rating to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $128.00 price objective on the stock.
According to Zacks, “Asbury Automotive Group, Inc. is one of the largest automotive retailers. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts. They sell used vehicles at all franchised dealership locations and stand-alone stores. Used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. They provide vehicle repair and maintenance services, sell replacement parts, and recondition used vehicles at all of our dealerships. “
Several other analysts also recently commented on the company. ValuEngine downgraded Asbury Automotive Group from a sell rating to a strong sell rating in a research note on Friday. SunTrust Banks increased their price target on Asbury Automotive Group to $125.00 in a report on Friday, December 13th. Morgan Stanley lowered their price target on Asbury Automotive Group from $114.00 to $111.00 and set an equal weight rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $100.00 to $99.00 and set a neutral rating on the stock in a report on Wednesday, October 23rd. Finally, Bank of America cut Asbury Automotive Group from a buy rating to a neutral rating in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $114.60.
Shares of ABG opened at $108.39 on Friday. The business’s fifty day simple moving average is $112.71 and its two-hundred day simple moving average is $98.90. The company has a current ratio of 1.17, a quick ratio of 0.34 and a debt-to-equity ratio of 1.55. Asbury Automotive Group has a 12 month low of $65.54 and a 12 month high of $123.44. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 1.21.
Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 22nd. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. Asbury Automotive Group had a return on equity of 33.14% and a net margin of 2.55%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $2.21 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that Asbury Automotive Group will post 9.26 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABG. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Asbury Automotive Group by 21.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,367 shares of the company’s stock valued at $140,000 after acquiring an additional 245 shares during the period. Point72 Asset Management L.P. bought a new stake in Asbury Automotive Group during the second quarter valued at about $25,000. California State Teachers Retirement System raised its holdings in Asbury Automotive Group by 1.3% during the third quarter. California State Teachers Retirement System now owns 30,087 shares of the company’s stock valued at $3,079,000 after acquiring an additional 375 shares during the period. Price Capital Management Inc. bought a new stake in Asbury Automotive Group during the third quarter valued at about $61,000. Finally, Point72 Hong Kong Ltd bought a new stake in Asbury Automotive Group during the second quarter valued at about $60,000.
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.
See Also: Google Finance Portfolio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.