Jefferies Initiates Coverage on Asbury Automotive Group to Hold

Jefferies Initiates Coverage on Asbury Automotive Group(NYSE:ABG). The shares have been rated Hold. The rating by Jefferies was issued on Apr 11, 2016.

In a different note, On Jan 25, 2016, Deutsche Bank said it Maintains its rating on Asbury Automotive Group. According to the research note, Deutsche Bank Lowers the price target to $68 per share from a prior target of $72. The shares have been rated ‘Hold’ by the firm.

Asbury Automotive Group (ABG) made into the market gainers list on Fridays trading session with the shares advancing 0.14% or 0.08 points. Due to strong positive momentum, the stock ended at $59.34, which is also near the day’s high of $59.96. The stock began the session at $59.14 and the volume stood at 2,99,071 shares. The 52-week high of the shares is $96.582 and the 52 week low is $43.56. The company has a current market capitalization of $1,468 M and it has 2,47,33,854 shares in outstanding.

Asbury Automotive Group(ABG) last announced its earnings results on Feb 4, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.64B. Analysts had an estimated revenue of $1.65B. Earnings per share were $1.31. Analysts had estimated an EPS of $1.36.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, Eugene S Katz (director) sold 1,000 shares at $60.57 per share price.Also, On May 14, 2015, Dennis E Clements (director) sold 10,000 shares at $85.00 per share price.On Apr 22, 2015, Juanita T James (director) sold 3,152 shares at $86.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Asbury Automotive Group Inc. (Asbury) is an automotive retailer in the United States. The Company offers a range of automotive products and services including new and used vehicles vehicle maintenance replacement parts and collision repair services new and used vehicle financing and aftermarket products including insurance warranty and service contracts. The Company’s brand names include Nalley Automotive Group Courtesy Autogroup Coggin Automotive Group Crown Automotive Company David McDavid Auto Group Gray-Daniels Auto Family and Plaza Motor Company among others. The Company’s new vehicle sales consist of the sale of new vehicles to individual retail customers and the sale of new vehicles to commercial customers. It’s used vehicle sales include the sale of used vehicles to individual retail customers and the sale of used vehicles to other dealers at auction. It provides vehicle maintenance and repair services in the markets of its franchised dealerships.

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