The Vanguard Group, Inc. has recently announced that it has increased stake in Asbury Automotive Group Inc. (NYSE:ABG) by 1.15%. After grabbing 2.45 million shares, the institutional investor is now in possession of 27929.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 11.09% having worth around $440.03 million. Moreover, Impactive Capital LP increased its share by 3017.0 to have a control over 2.2 million shares. And Neuberger Berman Investment Advis raised its holdings to 90426.0 shares by acquiring 1.45 million shares or 6.54% of the stake.
Asbury Automotive Group Inc. (ABG) concluded trading on 01/19/23 at a closing price of $184.04, with 0.14 million shares of worth about $26.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.54% during that period and on Thursday the price saw a loss of about -0.16%. Currently the company’s common shares owned by public are about 22.10M shares, out of which, 21.97M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the ABG stock and their offered price forecasts bring an average price target of $218.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $310.00 and could fall to a lowest price of $128.00. The stock’s current price level is 16.07% above of average price target set by the analysts, while a rise to estimated low would result in loss of -43.78% for the stock. However, touching the estimated high of $310.00 would mean a gain of 40.63% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 87 times over the past 12 months. They bought 54,230 shares in 33 of the transactions. In 54 selling transactions, insiders dumped 56,564 shares.
iShares Core S&P Small Cap ETF, Neuberger Berman Genesis Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Asbury Automotive Group Inc. iShares Core S&P Small Cap ETF is currently holding 1.63 million shares of worth totaling $293.01 million. The company recently came selling 3925.0 shares which brought its stake up to 7.39% of the company’s outstanding shares. Neuberger Berman Genesis Fund sold 5846.0 shares, after which its hold over company’s outstanding shares shrunk to 3.53%, leaving 0.78 million shares with the mutual fund that have a worth of about $140.09 million. Vanguard Total Stock Market Index, after buying 0.67 million shares, have now control over 3.01% of the stake in the company. It holds 912.0 shares of worth $119.21 million.
Asbury Automotive Group Inc. (NYSE: ABG) started trading at $182.89, below -$1.45 from concluding price of the previous day. However, the stock later moved at a day high price of 184.07, or with a loss of -0.16%. Stock saw a price change of -4.13% in past 5 days and over the past one month there was a price change of 10.14%. Year-to-date (YTD), ABG shares are showing a performance of 2.67% which increased to 9.37% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $138.88 but also hit the highest price of $203.92 during that period. The average intraday trading volume for Asbury Automotive Group Inc. shares is 183.83K. The stock is currently trading 3.55% above its 20-day simple moving average (SMA20), while that difference is up 3.97% for SMA50 and it goes to 7.59% higher than SMA200.
The Vanguard Group, Inc. acquired 2.45 million shares of Asbury Automotive Group Inc. having value of about $440.03 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 27929.0 shares in the company valued at close to $5140053.16, or have control over 1.15% stake in the company. Holding of mutual funds in the company is about 52.65% while other institutional holders and individual stake holders have control over 55.77% and 40.32% of the stake respectively.
The stock has a current market capitalization of $4.17B and its 3Y-monthly beta is at 1.13. PE ratio of stock for trailing 12 months is 5.24, while it has posted earnings per share of $35.10 in the same period. Its PEG reads 0.28 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 1.27. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ABG, volatility over the week remained 3.12% while standing at 3.59% over the month.
Analysts are in expectations that Asbury Automotive Group Inc. (ABG) stock would likely to be making an EPS of $9.22 in the current quarter, while forecast for next quarter EPS is $8.54 and it is $32.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $8.65 which is $9.45 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $7.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 100.90% while it is estimated to decrease by -17.06% in next year. EPS is likely to shrink at an annualized rate of 18.50% for next 5-years, compared to annual growth of 29.10% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the Asbury Automotive Group Inc. (ABG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 9 Wall Street analysts, 5 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Coverage by Truist stated Asbury Automotive Group Inc. (ABG) stock as a Buy in their note to investors on September 30, 2021, suggesting a price target of $250 for the stock. On July 26, 2021, Morgan Stanley Downgrade their recommendations, while on December 07, 2020, Morgan Stanley Upgrade their ratings for the stock with a price target of $170. Stock get a Buy rating from Craig Hallum on December 03, 2020.