Asbury Automotive Group, Inc. (NYSE:ABG) SVP Jed Milstein sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $69.41, for a total transaction of $69,410.00. Following the sale, the senior vice president now owns 13,027 shares in the company, valued at approximately $904,204.07. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Asbury Automotive Group stock traded down $0.91 during mid-day trading on Thursday, reaching $68.09. The company had a trading volume of 5,380 shares, compared to its average volume of 157,589. Asbury Automotive Group, Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $77.75. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.19 and a quick ratio of 0.37. The firm has a market capitalization of $1.33 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.55 and a beta of 1.17.
Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Wednesday, February 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.13. Asbury Automotive Group had a net margin of 2.44% and a return on equity of 37.38%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $1.81 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts expect that Asbury Automotive Group, Inc. will post 8.61 earnings per share for the current year.
Several research firms recently issued reports on ABG. Morgan Stanley increased their price target on shares of Asbury Automotive Group from $71.00 to $81.00 and gave the stock a “sell” rating in a research report on Wednesday, November 14th. JPMorgan Chase & Co. began coverage on shares of Asbury Automotive Group in a research report on Tuesday, February 19th. They issued a “neutral” rating and a $82.00 target price on the stock. ValuEngine upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Monday, December 17th. Finally, Zacks Investment Research lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.80.
A number of institutional investors have recently modified their holdings of ABG. Abrams Capital Management L.P. lifted its holdings in shares of Asbury Automotive Group by 46.1% during the third quarter. Abrams Capital Management L.P. now owns 1,585,091 shares of the company’s stock worth $108,975,000 after purchasing an additional 500,000 shares during the period. Norges Bank acquired a new position in shares of Asbury Automotive Group during the fourth quarter worth $18,252,000. BlackRock Inc. lifted its holdings in shares of Asbury Automotive Group by 8.1% during the third quarter. BlackRock Inc. now owns 3,342,070 shares of the company’s stock worth $229,768,000 after purchasing an additional 250,741 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Asbury Automotive Group by 19.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,302,181 shares of the company’s stock worth $86,803,000 after purchasing an additional 213,548 shares during the period. Finally, Financial Advocates Investment Management lifted its holdings in shares of Asbury Automotive Group by 83,165.1% during the fourth quarter. Financial Advocates Investment Management now owns 176,522 shares of the company’s stock worth $6,400,000 after purchasing an additional 176,310 shares during the period.
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About Asbury Automotive Group
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.
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