Asbury Automotive Group (NYSE:ABG) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Asbury Automotive Group (NYSE:ABGGet Rating) from a hold rating to a buy rating in a report published on Thursday.

A number of other research firms also recently weighed in on ABG. JPMorgan Chase & Co. cut their price target on Asbury Automotive Group from $225.00 to $200.00 and set a neutral rating on the stock in a research note on Thursday, April 7th. Morgan Stanley downgraded Asbury Automotive Group from an equal weight rating to an underweight rating and dropped their price objective for the stock from $185.00 to $152.00 in a research note on Friday, May 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $206.75.

Shares of ABG opened at $166.36 on Thursday. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.25 and a beta of 1.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.70 and a current ratio of 1.14. The business’s fifty day moving average price is $176.11 and its two-hundred day moving average price is $173.21. Asbury Automotive Group has a 52 week low of $146.43 and a 52 week high of $230.96.

Asbury Automotive Group (NYSE:ABGGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.92 by $0.35. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.91 billion. Asbury Automotive Group had a return on equity of 39.72% and a net margin of 5.86%. The business’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same period last year, the company earned $4.68 EPS. As a group, research analysts forecast that Asbury Automotive Group will post 35.18 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in ABG. Mutual of America Capital Management LLC grew its holdings in Asbury Automotive Group by 22.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 3,160 shares of the company’s stock worth $546,000 after purchasing an additional 582 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Asbury Automotive Group by 32.6% during the fourth quarter. Teacher Retirement System of Texas now owns 4,124 shares of the company’s stock worth $712,000 after acquiring an additional 1,015 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Asbury Automotive Group by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 174,829 shares of the company’s stock worth $30,199,000 after acquiring an additional 15,685 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Asbury Automotive Group in the fourth quarter valued at approximately $1,814,000. Finally, State of Alaska Department of Revenue raised its position in shares of Asbury Automotive Group by 16.2% in the fourth quarter. State of Alaska Department of Revenue now owns 16,385 shares of the company’s stock valued at $2,830,000 after buying an additional 2,285 shares in the last quarter.

About Asbury Automotive Group (Get Rating)

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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