Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) – Analysts at Seaport Res Ptn decreased their Q2 2023 EPS estimates for Asbury Automotive Group in a research note issued to investors on Tuesday, April 25th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings of $7.93 per share for the quarter, down from their previous forecast of $8.00. The consensus estimate for Asbury Automotive Group’s current full-year earnings is $30.49 per share. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s Q3 2023 earnings at $7.51 EPS, Q4 2023 earnings at $6.64 EPS, FY2023 earnings at $30.45 EPS and FY2024 earnings at $28.11 EPS.
A number of other research analysts have also issued reports on ABG. Stephens raised their price objective on shares of Asbury Automotive Group to $275.00 in a report on Thursday. StockNews.com cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley lowered their price objective on Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 17th.
Asbury Automotive Group Trading Up 3.8 %
ABG stock opened at $193.19 on Thursday. The company has a market capitalization of $4.19 billion, a PE ratio of 4.33, a price-to-earnings-growth ratio of 0.33 and a beta of 1.13. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.92 and a current ratio of 1.85. Asbury Automotive Group has a 52 week low of $138.88 and a 52 week high of $253.67. The company’s 50-day simple moving average is $210.92 and its 200-day simple moving average is $192.15.
Asbury Automotive Group (NYSE:ABG – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $8.37 EPS for the quarter, topping the consensus estimate of $7.94 by $0.43. Asbury Automotive Group had a net margin of 6.23% and a return on equity of 30.58%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the previous year, the company earned $9.27 EPS. Asbury Automotive Group’s revenue was down 8.4% on a year-over-year basis.
Hedge Funds Weigh In On Asbury Automotive Group
A number of large investors have recently added to or reduced their stakes in ABG. Ronald Blue Trust Inc. increased its position in Asbury Automotive Group by 305.0% during the third quarter. Ronald Blue Trust Inc. now owns 243 shares of the company’s stock worth $41,000 after purchasing an additional 183 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Asbury Automotive Group by 614.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 250 shares of the company’s stock valued at $45,000 after acquiring an additional 215 shares during the period. Standard Family Office LLC purchased a new position in Asbury Automotive Group in the 3rd quarter valued at $52,000. Quadrant Capital Group LLC grew its position in Asbury Automotive Group by 236.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 411 shares of the company’s stock valued at $62,000 after buying an additional 289 shares during the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in shares of Asbury Automotive Group during the 3rd quarter worth $200,000.
Insider Buying and Selling at Asbury Automotive Group
In other news, SVP George A. Villasana sold 2,828 shares of the stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $235.60, for a total value of $666,276.80. Following the completion of the sale, the senior vice president now directly owns 4,290 shares of the company’s stock, valued at $1,010,724. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Jed Milstein sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $233.81, for a total transaction of $713,120.50. Following the completion of the transaction, the senior vice president now owns 8,301 shares in the company, valued at approximately $1,940,856.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP George A. Villasana sold 2,828 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $235.60, for a total transaction of $666,276.80. Following the completion of the sale, the senior vice president now directly owns 4,290 shares in the company, valued at $1,010,724. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,928 shares of company stock valued at $7,441,409. 0.72% of the stock is owned by company insiders.
About Asbury Automotive Group
Asbury Automotive Group, Inc is a franchised automotive retailer. It operates through the Dealerships and Total Care Auto (TCA) segments. The Dealerships segment offers a range of automotive products and services fulfilling the entire vehicle ownership lifecycle including the sale of new and used vehicles and the provision of vehicle repair and maintenance services, replacement parts, and collision repair services.
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