Asbury Automotive Group Inc (NYSE:ABG) posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by $0.09, Bloomberg Earnings reports. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Asbury Automotive Group had a net margin of 2.53% and a return on equity of 46.58%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share.
Asbury Automotive Group (NYSE ABG) traded up 1.69% during trading on Friday, hitting $54.25. 122,835 shares of the stock traded hands. The firm has a market cap of $1.13 billion, a PE ratio of 7.06 and a beta of 1.42. Asbury Automotive Group has a 12 month low of $47.50 and a 12 month high of $71.00. The firm has a 50-day moving average price of $55.57 and a 200 day moving average price of $59.86.
In other Asbury Automotive Group news, Director Thomas C. Deloach, Jr. sold 1,676 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $59.20, for a total value of $99,219.20. Following the completion of the sale, the director now directly owns 82,000 shares in the company, valued at $4,854,400. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO David W. Hult sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $57.34, for a total transaction of $716,750.00. Following the completion of the sale, the chief operating officer now owns 41,911 shares of the company’s stock, valued at $2,403,176.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,919 shares of company stock valued at $969,522. 11.90% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in Asbury Automotive Group during the first quarter worth about $104,000. Victory Capital Management Inc. boosted its position in Asbury Automotive Group by 45.6% in the first quarter. Victory Capital Management Inc. now owns 1,874 shares of the company’s stock worth $113,000 after buying an additional 587 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Asbury Automotive Group by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 3,333 shares of the company’s stock worth $200,000 after buying an additional 132 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Asbury Automotive Group during the first quarter worth about $210,000. Finally, State of Alaska Department of Revenue boosted its position in Asbury Automotive Group by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 3,714 shares of the company’s stock worth $210,000 after buying an additional 1,634 shares in the last quarter. Institutional investors own 99.89% of the company’s stock.
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Several analysts have weighed in on the company. BidaskClub cut Asbury Automotive Group from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a research report on Friday, June 2nd. Craig Hallum reaffirmed a “hold” rating and set a $55.00 price objective (down from $65.00) on shares of Asbury Automotive Group in a research report on Wednesday, July 26th. ValuEngine lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $60.00 target price (down from $68.00) on shares of Asbury Automotive Group in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $57.80.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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