Asbury Automotive Group (NYSE:ABG) Rating Lowered to Hold at Craig Hallum

Asbury Automotive Group (NYSE:ABG) was downgraded by equities researchers at Craig Hallum from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. 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 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 report on Monday, November 11th. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Stephens increased 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 note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $264.00.

Asbury Automotive Group Trading Down 2.1 %

ABG opened at $294.55 on Tuesday. Asbury Automotive Group has a one year low of $202.98 and a one year high of $312.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The business has a 50 day simple moving average of $263.90 and a two-hundred day simple moving average of $247.37. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 13.69 and a beta of 1.20.

Insider Transactions at Asbury Automotive Group

In related news, COO Daniel Clara sold 1,217 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares in the company, valued at $1,111,510.08. This represents a 24.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Asbury Automotive Group

Several hedge funds have recently added to or reduced their stakes in ABG. Vise Technologies Inc. increased its holdings in shares of Asbury Automotive Group by 14.1% during the fourth quarter. Vise Technologies Inc. now owns 1,681 shares of the company’s stock valued at $409,000 after acquiring an additional 208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Asbury Automotive Group by 23.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,563 shares of the company’s stock valued at $12,045,000 after purchasing an additional 9,418 shares during the last quarter. Voloridge Investment Management LLC increased its stake in Asbury Automotive Group by 37.4% during the 4th quarter. Voloridge Investment Management LLC now owns 90,198 shares of the company’s stock valued at $21,921,000 after purchasing an additional 24,561 shares in the last quarter. Tidal Investments LLC raised its holdings in Asbury Automotive Group by 5.5% in the fourth quarter. Tidal Investments LLC now owns 3,214 shares of the company’s stock worth $781,000 after buying an additional 167 shares during the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in shares of Asbury Automotive Group in the fourth quarter worth approximately $270,000.

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.