Asbury Automotive Group (NYSE:ABG) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $85.00 to $88.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.56% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Craig Hallum raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Finally, Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $84.00.

ABG traded up $0.33 during trading on Tuesday, reaching $84.16. 96,988 shares of the company’s stock were exchanged, compared to its average volume of 159,918. The firm has a fifty day moving average of $80.39. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.33. Asbury Automotive Group has a fifty-two week low of $58.60 and a fifty-two week high of $87.16. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.66 and a beta of 1.25.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.28. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Asbury Automotive Group had a net margin of 2.43% and a return on equity of 36.35%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. Equities research analysts forecast that Asbury Automotive Group will post 8.97 earnings per share for the current year.

In related news, CEO David W. Hult sold 15,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $79.25, for a total value of $1,188,750.00. Following the sale, the chief executive officer now directly owns 25,703 shares of the company’s stock, valued at approximately $2,036,962.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jed Milstein sold 1,300 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $78.36, for a total transaction of $101,868.00. Following the completion of the sale, the senior vice president now directly owns 11,727 shares in the company, valued at $918,927.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,599 shares of company stock worth $2,589,539. Insiders own 1.36% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ABG. Janney Montgomery Scott LLC lifted its position in Asbury Automotive Group by 34.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,197 shares of the company’s stock worth $1,956,000 after buying an additional 7,166 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Asbury Automotive Group by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,657 shares of the company’s stock worth $444,000 after buying an additional 5,199 shares in the last quarter. Deutsche Bank AG lifted its position in Asbury Automotive Group by 147.3% during the 4th quarter. Deutsche Bank AG now owns 136,960 shares of the company’s stock worth $9,128,000 after buying an additional 81,581 shares in the last quarter. GAM Holding AG lifted its position in Asbury Automotive Group by 43.6% during the 1st quarter. GAM Holding AG now owns 10,306 shares of the company’s stock worth $715,000 after buying an additional 3,128 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Asbury Automotive Group by 64.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,250 shares of the company’s stock worth $817,000 after buying an additional 4,784 shares in the last quarter.

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.

See Also: What is range trading?

Analyst Recommendations for Asbury Automotive Group (NYSE:ABG)

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.