Asbury Automotive Group, Inc. (NYSE:ABG) Sees Large Drop in Short Interest

Asbury Automotive Group, Inc. (NYSE:ABG) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 2,170,000 shares, a drop of 6.5% from the December 15th total of 2,320,000 shares. Currently, 11.2% of the shares of the company are sold short. Based on an average trading volume of 176,000 shares, the days-to-cover ratio is presently 12.3 days.

Asbury Automotive Group Stock Down 0.3 %

ABG stock traded down $0.64 during trading hours on Monday, hitting $244.72. The company’s stock had a trading volume of 291,690 shares, compared to its average volume of 133,305. The company has a market capitalization of $4.79 billion, a PE ratio of 13.85 and a beta of 1.19. The stock has a 50 day moving average price of $251.88 and a two-hundred day moving average price of $240.86. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group has a 12 month low of $195.09 and a 12 month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $8.12 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group will post 25.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on Asbury Automotive Group from $260.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday. Bank of America dropped their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Finally, Craig Hallum boosted their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and a consensus target price of $255.20.

Hedge Funds Weigh In On Asbury Automotive Group

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Asbury Automotive Group during the third quarter valued at approximately $31,000. Quarry LP bought a new stake in Asbury Automotive Group in the 2nd quarter valued at $38,000. GAMMA Investing LLC raised its stake in shares of Asbury Automotive Group by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after buying an additional 101 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock valued at $204,000 after buying an additional 123 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth about $212,000.

Asbury Automotive Group Company Profile

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.