Craig Hallum Lowers Asbury Automotive Group (NYSE:ABG) to Hold
Craig Hallum downgraded shares of Asbury Automotive Group (NYSE:ABG) from a buy rating to a hold rating in a research report sent to investors on Wednesday, The Fly reports. Craig Hallum currently has $110.00 price objective on the stock, up from their previous price objective of $100.00.
ABG has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Asbury Automotive Group from a hold rating to a buy rating and set a $93.00 price objective for the company in a research note on Tuesday, June 9th. SunTrust Banks increased their price target on shares of Asbury Automotive Group from $70.00 to $100.00 and gave the stock a hold rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Asbury Automotive Group from $69.00 to $76.00 and gave the stock a neutral rating in a research note on Wednesday, May 6th. ValuEngine lowered Asbury Automotive Group from a sell rating to a strong sell rating in a research note on Tuesday, July 14th. Finally, TheStreet raised Asbury Automotive Group from a c+ rating to a b rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $101.33.
Asbury Automotive Group stock opened at $100.15 on Wednesday. The business has a 50 day moving average price of $86.73 and a two-hundred day moving average price of $78.53. The company has a quick ratio of 0.59, a current ratio of 1.48 and a debt-to-equity ratio of 1.76. Asbury Automotive Group has a 12 month low of $39.36 and a 12 month high of $123.44. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 12.26 and a beta of 1.62.
In related news, SVP Jed Milstein sold 2,300 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $77.31, for a total transaction of $177,813.00. Following the sale, the senior vice president now directly owns 13,977 shares in the company, valued at approximately $1,080,561.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO William Frederick Stax sold 700 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $105.00, for a total value of $73,500.00. Following the sale, the chief accounting officer now directly owns 4,731 shares of the company’s stock, valued at $496,755. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Two Sigma Investments LP bought a new position in shares of Asbury Automotive Group in the first quarter valued at about $1,263,000. AQR Capital Management LLC increased its position in Asbury Automotive Group by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 22,008 shares of the company’s stock valued at $1,216,000 after acquiring an additional 9,002 shares in the last quarter. Nuveen Asset Management LLC increased its position in Asbury Automotive Group by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 74,037 shares of the company’s stock valued at $8,276,000 after acquiring an additional 432 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Asbury Automotive Group by 54.4% in the first quarter. BNP Paribas Arbitrage SA now owns 9,573 shares of the company’s stock worth $529,000 after acquiring an additional 3,374 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Asbury Automotive Group by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 16,215 shares of the company’s stock worth $896,000 after purchasing an additional 809 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.
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