Asbury Automotive Group (NYSE:ABG) Posts Earnings Results, Misses Expectations By $0.23 EPS

by · The Cerbat Gem

Asbury Automotive Group (NYSE:ABGGet Free Report) issued its quarterly earnings data on Tuesday. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23), Briefing.com reports. Asbury Automotive Group had a return on equity of 17.93% and a net margin of 2.51%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business posted $8.12 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis.

Asbury Automotive Group Trading Up 0.6 %

NYSE:ABG traded up $1.33 during mid-day trading on Wednesday, reaching $232.75. 54,324 shares of the company’s stock traded hands, compared to its average volume of 184,449. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.25 and a quick ratio of 0.45. The company has a 50 day moving average price of $229.88 and a 200-day moving average price of $231.40. Asbury Automotive Group has a 12-month low of $186.29 and a 12-month high of $277.13. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 8.58 and a beta of 1.16.

Insider Transactions at Asbury Automotive Group

In other news, CEO David W. Hult sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the sale, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at $12,911,548.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Impactive Capital Lp sold 8,353 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the completion of the sale, the insider now directly owns 2,008,649 shares in the company, valued at $453,211,473.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David W. Hult sold 500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the sale, the chief executive officer now owns 56,834 shares of the company’s stock, valued at $12,911,548.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stephens began coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Craig Hallum raised their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday. Bank of America reduced their price objective on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com cut Asbury Automotive Group from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.20.

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About Asbury Automotive Group

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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.

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