Asbury Automotive Group (ABG) Announces Earnings Results

Asbury Automotive Group (NYSE:ABG) released its quarterly earnings data on Tuesday. The company reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.92 by $0.28, MarketWatch Earnings reports. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Asbury Automotive Group had a net margin of 2.44% and a return on equity of 37.38%. Asbury Automotive Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS.

Shares of NYSE ABG opened at $76.83 on Wednesday. The company has a market cap of $1.48 billion, a PE ratio of 9.14, a PEG ratio of 0.61 and a beta of 1.16. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.19 and a quick ratio of 0.37. Asbury Automotive Group has a 1 year low of $58.60 and a 1 year high of $82.30.

ABG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Tuesday, April 16th. Craig Hallum upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Asbury Automotive Group presently has an average rating of “Hold” and a consensus target price of $80.17.

In other news, Director Dennis E. Clements sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $71.10, for a total transaction of $1,422,000.00. Following the completion of the sale, the director now owns 6,883 shares in the company, valued at approximately $489,381.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas C. Deloach, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $71.67, for a total transaction of $645,030.00. Following the sale, the director now owns 46,703 shares of the company’s stock, valued at approximately $3,347,204.01. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $2,911,440 in the last 90 days. Insiders own 1.36% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in Asbury Automotive Group by 6.5% in the 3rd quarter. Wells Fargo & Company MN now owns 38,782 shares of the company’s stock valued at $2,666,000 after purchasing an additional 2,376 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Asbury Automotive Group by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 280,910 shares of the company’s stock valued at $19,312,000 after purchasing an additional 13,951 shares during the last quarter. Martingale Asset Management L P increased its holdings in Asbury Automotive Group by 33.9% in the 3rd quarter. Martingale Asset Management L P now owns 59,614 shares of the company’s stock valued at $4,099,000 after purchasing an additional 15,094 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 879,135 shares of the company’s stock valued at $60,442,000 after purchasing an additional 14,915 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Asbury Automotive Group in the 3rd quarter valued at approximately $3,053,000.

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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.

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Earnings History for Asbury Automotive Group (NYSE:ABG)

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