Zacks Investment Research upgraded shares of Asbury Automotive Group (NYSE:ABG) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $84.00 price target 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 research analysts have also recently commented on ABG. ValuEngine upgraded shares of Asbury Automotive Group from a sell rating to a hold rating in a report on Monday, December 17th. JPMorgan Chase & Co. assumed coverage on shares of Asbury Automotive Group in a report on Tuesday, February 19th. They issued a neutral rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $78.20.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Wednesday, February 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.07 by $0.13. Asbury Automotive Group had a net margin of 2.44% and a return on equity of 37.38%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts anticipate that Asbury Automotive Group will post 8.61 earnings per share for the current fiscal year.
In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $70.00, for a total value of $420,000.00. Following the completion of the transaction, the director now directly owns 52,948 shares in the company, valued at $3,706,360. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jed Milstein sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $69.41, for a total transaction of $69,410.00. Following the completion of the transaction, the senior vice president now owns 13,027 shares of the company’s stock, valued at $904,204.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,000 shares of company stock valued at $2,911,440. Corporate insiders own 1.36% of the company’s stock.
Several hedge funds have recently bought and sold shares of ABG. PNC Financial Services Group Inc. boosted its holdings in shares of Asbury Automotive Group by 29.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,419 shares of the company’s stock worth $95,000 after purchasing an additional 325 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Asbury Automotive Group by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,611 shares of the company’s stock worth $107,000 after purchasing an additional 390 shares during the period. Denali Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 3,991.5% during the first quarter. Denali Advisors LLC now owns 1,923 shares of the company’s stock worth $133,000 after purchasing an additional 1,876 shares during the period. 6 Meridian acquired a new stake in shares of Asbury Automotive Group during the first quarter worth approximately $205,000. Finally, Amalgamated Bank acquired a new stake in shares of Asbury Automotive Group during the fourth quarter worth approximately $209,000.
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.
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