JPMorgan Chase & Co. Trims Asbury Automotive Group (NYSE:ABG) Target Price to $230.00

Asbury Automotive Group (NYSE:ABG) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $235.00 to $230.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 9.35% from the company’s current price.

Separately, Craig Hallum lowered Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a research report on Thursday, February 8th.

Asbury Automotive Group Stock Performance

ABG stock traded down $0.31 during mid-day trading on Thursday, reaching $210.33. The company had a trading volume of 32,648 shares, compared to its average volume of 165,609. Asbury Automotive Group has a one year low of $178.40 and a one year high of $256.39. The stock has a market capitalization of $4.24 billion, a P/E ratio of 7.66 and a beta of 1.19. The company has a quick ratio of 0.45, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The stock’s 50-day simple moving average is $217.08 and its two-hundred day simple moving average is $213.20.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Thursday, April 25th. The company reported $7.21 EPS for the quarter, missing the consensus estimate of $7.76 by ($0.55). The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.26 billion. Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. Asbury Automotive Group’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $8.37 EPS. Research analysts anticipate that Asbury Automotive Group will post 30.87 EPS for the current year.

Insider Activity

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total value of $826,595.00. Following the sale, the senior vice president now directly owns 8,300 shares in the company, valued at $1,734,700. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Asbury Automotive Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth $28,000. DekaBank Deutsche Girozentrale acquired a new stake in Asbury Automotive Group during the 3rd quarter worth about $36,000. CWM LLC lifted its stake in Asbury Automotive Group by 94.0% during the third quarter. CWM LLC now owns 161 shares of the company’s stock valued at $37,000 after buying an additional 78 shares in the last quarter. AXS Investments LLC acquired a new position in shares of Asbury Automotive Group in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC purchased a new position in shares of Asbury Automotive Group in the fourth quarter worth approximately $48,000.

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.