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 Friday morning. The firm currently has $77.00 target price 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. “

Other equities research analysts also recently issued research reports about the company. Buckingham Research boosted their price target on Asbury Automotive Group from $70.00 to $74.00 and gave the company a hold rating in a research report on Wednesday, October 24th. SunTrust Banks lowered their price target on Asbury Automotive Group to $70.00 and set a hold rating for the company in a research report on Wednesday, October 24th. ValuEngine raised Asbury Automotive Group from a sell rating to a hold rating in a research report on Tuesday, October 23rd. Finally, Morgan Stanley boosted their price target on Asbury Automotive Group from $71.00 to $81.00 and gave the company a sell rating in a research report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average price target of $73.80.

Asbury Automotive Group stock traded up $0.68 during trading on Friday, hitting $69.64. The company’s stock had a trading volume of 145,467 shares, compared to its average volume of 250,096. The firm has a market capitalization of $1.38 billion, a P/E ratio of 10.83, a PEG ratio of 0.53 and a beta of 1.29. Asbury Automotive Group has a 1-year low of $58.60 and a 1-year high of $77.75. The company has a current ratio of 1.21, a quick ratio of 0.36 and a debt-to-equity ratio of 1.77.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.33. Asbury Automotive Group had a return on equity of 37.83% and a net margin of 2.52%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Asbury Automotive Group will post 8.29 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ABG. Victory Capital Management Inc. boosted its position in shares of Asbury Automotive Group by 184.4% in the third quarter. Victory Capital Management Inc. now owns 1,088,633 shares of the company’s stock worth $74,843,000 after buying an additional 705,871 shares during the period. BlackRock Inc. boosted its position in shares of Asbury Automotive Group by 26.3% in the second quarter. BlackRock Inc. now owns 3,091,329 shares of the company’s stock worth $211,911,000 after buying an additional 643,580 shares during the period. Abrams Capital Management L.P. boosted its position in shares of Asbury Automotive Group by 46.1% in the third quarter. Abrams Capital Management L.P. now owns 1,585,091 shares of the company’s stock worth $108,975,000 after buying an additional 500,000 shares during the period. Prudential Financial Inc. boosted its position in shares of Asbury Automotive Group by 57.7% in the third quarter. Prudential Financial Inc. now owns 479,040 shares of the company’s stock worth $32,934,000 after buying an additional 175,343 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Asbury Automotive Group by 152.1% in the second quarter. Bank of America Corp DE now owns 157,007 shares of the company’s stock worth $10,763,000 after buying an additional 94,716 shares during the period.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.

Featured Story: What is the balance sheet?

Get a free copy of the Zacks research report on Asbury Automotive Group (ABG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Asbury Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asbury Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.