Asbury Automotive Group (ABG) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Asbury Automotive Group (NYSE:ABG) from a buy rating to a hold rating in a research report report published on Monday.

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. “

ABG has been the subject of several other research reports. ValuEngine upgraded shares of Asbury Automotive Group from a sell rating to a hold rating in a research report on Tuesday, October 23rd. Morgan Stanley increased their price objective on shares of Asbury Automotive Group from $71.00 to $81.00 and gave the company a sell rating in a research report on Wednesday, November 14th. Buckingham Research increased their price objective on shares of Asbury Automotive Group from $70.00 to $74.00 and gave the company a hold rating in a research report on Wednesday, October 24th. Finally, SunTrust Banks lowered their price objective on shares of Asbury Automotive Group to $70.00 and set a hold rating for the company in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Asbury Automotive Group has an average rating of Hold and an average target price of $75.50.

Shares of NYSE:ABG opened at $70.62 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.21 and a quick ratio of 0.36. Asbury Automotive Group has a fifty-two week low of $58.60 and a fifty-two week high of $77.75. The firm has a market cap of $1.35 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.58 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Wednesday, February 6th. The company reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.13. Asbury Automotive Group had a net margin of 2.44% and a return on equity of 37.81%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Asbury Automotive Group’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that Asbury Automotive Group will post 8.63 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Asbury Automotive Group by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 205,507 shares of the company’s stock valued at $13,699,000 after purchasing an additional 16,730 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Asbury Automotive Group by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 888,124 shares of the company’s stock valued at $59,202,000 after purchasing an additional 8,989 shares during the last quarter. Hsbc Holdings PLC lifted its position in Asbury Automotive Group by 1,144.2% during the fourth quarter. Hsbc Holdings PLC now owns 38,732 shares of the company’s stock valued at $2,582,000 after purchasing an additional 35,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Asbury Automotive Group by 64.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,250 shares of the company’s stock valued at $817,000 after purchasing an additional 4,784 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Asbury Automotive Group by 72.6% during the fourth quarter. Bessemer Group Inc. now owns 37,100 shares of the company’s stock valued at $2,473,000 after purchasing an additional 15,600 shares during the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

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