Asbury Automotive Group (NYSE:ABG – Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm currently has a $245.00 target price on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 24.77% from the stock’s current price.
Several other analysts also recently issued reports on the stock. Stephens lifted their price target on shares of Asbury Automotive Group from $275.00 to $300.00 in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Asbury Automotive Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Morgan Stanley upped their target price on shares of Asbury Automotive Group from $128.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, August 9th.
Asbury Automotive Group Stock Up 2.6 %
ABG stock opened at $196.36 on Tuesday. The stock’s 50 day simple moving average is $216.18 and its 200 day simple moving average is $218.44. The company has a market cap of $4.04 billion, a P/E ratio of 4.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.77 and a current ratio of 2.07. Asbury Automotive Group has a fifty-two week low of $150.73 and a fifty-two week high of $256.39.
Hedge Funds Weigh In On Asbury Automotive Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its holdings in shares of Asbury Automotive Group by 47.5% in the first quarter. HighTower Advisors LLC now owns 3,671 shares of the company’s stock worth $593,000 after buying an additional 1,182 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Asbury Automotive Group by 8.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,459 shares of the company’s stock worth $233,000 after acquiring an additional 119 shares during the period. Bank of Montreal Can lifted its stake in Asbury Automotive Group by 1.2% in the 1st quarter. Bank of Montreal Can now owns 6,583 shares of the company’s stock worth $1,099,000 after purchasing an additional 76 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Asbury Automotive Group by 56.3% in the 1st quarter. MetLife Investment Management LLC now owns 12,440 shares of the company’s stock worth $1,993,000 after purchasing an additional 4,480 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Asbury Automotive Group by 7.3% in the 1st quarter. Rhumbline Advisers now owns 63,891 shares of the company’s stock valued at $10,235,000 after purchasing an additional 4,367 shares during the period.
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.
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