Asbury Automotive Group (NYSE:ABG) Downgraded to Hold Rating by Craig Hallum

Craig Hallum cut shares of Asbury Automotive Group (NYSE:ABG) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

ABG has been the topic of several other research reports. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stephens lifted their price target on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $264.00.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $294.55 on Tuesday. Asbury Automotive Group has a 12 month low of $202.98 and a 12 month high of $312.56. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 13.69 and a beta of 1.20. The stock’s 50 day moving average price is $263.90 and its 200 day moving average price is $247.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABG. Aster Capital Management DIFC Ltd purchased a new position in Asbury Automotive Group during the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in Asbury Automotive Group during the 3rd quarter worth approximately $31,000. CIBC Private Wealth Group LLC boosted its stake in shares of Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock valued at $117,000 after buying an additional 41 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock valued at $122,000 after buying an additional 351 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company’s stock valued at $147,000 after buying an additional 443 shares during the period.

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.