Asbury Automotive Group (NYSE:ABG) Price Target Cut to $250.00 by Analysts at JPMorgan Chase & Co.

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

A number of other analysts have also commented on ABG. Stephens boosted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Craig Hallum cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. 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, Asbury Automotive Group has an average rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Trading Down 4.6 %

Shares of NYSE:ABG opened at $226.59 on Thursday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 10.53 and a beta of 1.22. Asbury Automotive Group has a 12 month low of $206.62 and a 12 month high of $312.56. The company’s fifty day simple moving average is $266.98 and its 200 day simple moving average is $250.35. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Insider Buying and Selling at Asbury Automotive Group

In other 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 transaction of $361,010.88. Following the transaction, the chief operating officer now directly owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Asbury Automotive Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Madison Investment Advisors LLC bought a new stake in Asbury Automotive Group in the 4th quarter valued at $82,426,000. Norges Bank acquired a new position in shares of Asbury Automotive Group in the fourth quarter valued at $82,079,000. Artisan Partners Limited Partnership acquired a new position in shares of Asbury Automotive Group in the fourth quarter valued at $51,118,000. Eminence Capital LP raised its position in shares of Asbury Automotive Group by 15.8% in the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company’s stock valued at $191,453,000 after purchasing an additional 107,317 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Asbury Automotive Group during the 3rd quarter worth about $14,219,000.

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.