Asbury Automotive Group (NYSE:ABG) Hits New 1-Year Low – Here’s What Happened

Asbury Automotive Group, Inc. (NYSE:ABG)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $183.16 and last traded at $183.92, with a volume of 60131 shares. The stock had previously closed at $193.09.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Barclays lifted their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Citigroup decreased their target price on Asbury Automotive Group from $260.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Finally, Stephens decreased their target price on Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $238.00.

Asbury Automotive Group Stock Performance

The firm has a 50-day moving average of $198.17 and a two-hundred day moving average of $221.10. The company has a quick ratio of 0.29, a current ratio of 0.94 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.34 billion, a PE ratio of 6.35, a PEG ratio of 0.99 and a beta of 0.78.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share for the quarter, missing the consensus estimate of $5.62 by ($0.25). The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Asbury Automotive Group had a net margin of 3.05% and a return on equity of 13.39%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.82 earnings per share. Research analysts anticipate that Asbury Automotive Group, Inc. will post 25.74 EPS for the current year.

Insiders Place Their Bets

In related news, Director B. Christopher Disantis purchased 500 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $202.30 per share, for a total transaction of $101,150.00. Following the completion of the transaction, the director owned 5,400 shares in the company, valued at $1,092,420. The trade was a 10.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Abrams Capital Management L.P. raised its position in Asbury Automotive Group by 2.2% during the third quarter. Abrams Capital Management L.P. now owns 2,155,492 shares of the company’s stock valued at $526,910,000 after acquiring an additional 46,952 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Asbury Automotive Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock valued at $225,977,000 after acquiring an additional 34,104 shares in the last quarter. State Street Corp increased its position in shares of Asbury Automotive Group by 1.2% in the fourth quarter. State Street Corp now owns 781,228 shares of the company’s stock valued at $181,659,000 after buying an additional 9,535 shares in the last quarter. Norges Bank purchased a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $77,963,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Asbury Automotive Group by 106.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after buying an additional 152,669 shares in the last quarter.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.