Seaport Res Ptn Weighs in on Asbury Automotive Group, Inc.’s Q3 2022 Earnings (NYSE:ABG)

Asbury Automotive Group, Inc. (NYSE:ABGGet Rating) – Seaport Res Ptn issued their Q3 2022 EPS estimates for shares of Asbury Automotive Group in a report issued on Sunday, July 31st. Seaport Res Ptn analyst G. Chin anticipates that the company will earn $8.96 per share for the quarter. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $36.22 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s Q4 2022 earnings at $9.20 EPS, FY2022 earnings at $37.31 EPS, FY2023 earnings at $36.78 EPS and FY2024 earnings at $34.56 EPS.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Asbury Automotive Group from $195.00 to $205.00 and gave the company a “maintains” rating in a report on Monday. StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Finally, Morgan Stanley increased their price target on shares of Asbury Automotive Group from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.75.

Asbury Automotive Group Stock Up 2.1 %

ABG stock opened at $178.50 on Wednesday. The firm’s fifty day simple moving average is $172.75 and its 200-day simple moving average is $173.33. The company has a market capitalization of $3.95 billion, a P/E ratio of 5.34, a price-to-earnings-growth ratio of 0.27 and a beta of 1.13. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.38 and a quick ratio of 0.71. Asbury Automotive Group has a 12 month low of $146.43 and a 12 month high of $230.96.

Hedge Funds Weigh In On Asbury Automotive Group

A number of large investors have recently added to or reduced their stakes in ABG. Allspring Global Investments Holdings LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $1,814,000. State of New Jersey Common Pension Fund D raised its position in Asbury Automotive Group by 21.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,232 shares of the company’s stock worth $2,976,000 after acquiring an additional 3,086 shares during the period. Yousif Capital Management LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $3,744,000. CWM LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $250,000. Finally, Qube Research & Technologies Ltd acquired a new position in Asbury Automotive Group during the fourth quarter worth $204,000.

About Asbury Automotive Group

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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.

Further Reading

Earnings History and Estimates for Asbury Automotive Group (NYSE:ABG)

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