Asbury Automotive Group, Inc. (NYSE:ABG) Short Interest Update

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

Hedge Funds Weigh In On Asbury Automotive Group

Several large investors have recently made changes to their positions in ABG. Janney Montgomery Scott LLC acquired a new position in Asbury Automotive Group in the third quarter valued at approximately $804,000. Bridges Investment Management Inc. bought a new stake in shares of Asbury Automotive Group during the 2nd quarter valued at $760,000. Intech Investment Management LLC acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $1,223,000. International Assets Investment Management LLC bought a new position in shares of Asbury Automotive Group in the 3rd quarter worth $154,270,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Asbury Automotive Group during the third quarter worth $2,393,000.

Asbury Automotive Group Price Performance

Shares of NYSE ABG traded down $0.64 during trading on Monday, reaching $244.72. The company had a trading volume of 291,690 shares, compared to its average volume of 133,305. Asbury Automotive Group has a 52 week low of $195.09 and a 52 week high of $277.13. The business’s 50 day moving average price is $251.88 and its 200-day moving average price is $240.86. The stock has a market cap of $4.79 billion, a PE ratio of 13.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data 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). The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $8.12 EPS. Analysts expect that Asbury Automotive Group will post 25.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Craig Hallum lifted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced 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. Bank of America dropped their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.20.

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.