JPMorgan Chase & Co. Has Lowered Expectations for Asbury Automotive Group (NYSE:ABG) Stock Price

Asbury Automotive Group (NYSE:ABG) had its price target decreased by JPMorgan Chase & Co. from $290.00 to $250.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts have also commented on ABG. Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Stephens raised their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $263.00.

Asbury Automotive Group Stock Down 3.7 %

Asbury Automotive Group stock opened at $217.75 on Thursday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 10.12 and a beta of 1.22. The company has a 50-day simple moving average of $266.44 and a 200-day simple moving average of $250.55. Asbury Automotive Group has a one year low of $206.62 and a one year high of $312.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Asbury Automotive Group in the 4th quarter worth $25,000. CIBC Private Wealth Group LLC boosted its position in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after purchasing an additional 41 shares during the period. Smartleaf Asset Management LLC increased its stake in Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after purchasing an additional 351 shares in the last quarter. Headlands Technologies LLC raised its holdings in Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock worth $147,000 after buying an additional 443 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company’s stock valued at $153,000 after buying an additional 561 shares in the last quarter.

About Asbury Automotive Group

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.