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Initiation
Asbury Automotive initiated with a Buy at Seaport Global » 06:46
10/19/20
10/19
06:46
10/19/20
06:46
ABG

Asbury Automotive

$114.69 /

-1.81 (-1.55%)

Seaport Global analyst…

Seaport Global analyst Glenn Chin initiated coverage of Asbury Automotive with a Buy rating and $133 price target. Asbury has a reputation as being "one of, if not the best operators in the business," and yet its shares trade at discount to the group, Chin tells investors. He believes investors are concerned about debt following its recent large acquisition, but he thinks that the positives of the deal outweigh the higher debt load, the analyst added.

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ABG Asbury Automotive
$114.69 /

-1.81 (-1.55%)

ABG Asbury Automotive
$114.69 /

-1.81 (-1.55%)

10/16/20 Truist
Asbury Automotive price target raised to $120 from $110 at Truist
07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
ABG Asbury Automotive
$114.69 /

-1.81 (-1.55%)

Friday
Recommendations
Asbury Automotive price target raised to $120 from $110 at Truist » 09:17
10/16/20
10/16
09:17
10/16/20
09:17
ABG

Asbury Automotive

$116.50 /

+3.8 (+3.37%)

Truist analyst Stephanie…

Truist analyst Stephanie Benjamin raised the firm's price target on Asbury Automotive to $120 from $110 but keeps a Hold rating on the shares. The company's Q3 pre-announcement exceeded expectations, as its same-store gross profit increased 6%-7% from last year, the analyst tells investors in a research note. Benjamin adds that Asbury Auto's strong margin performance continued into Q3, and assuming stable margins, she sees overall comps as being "roughly breakeven" in the quarter. Trading in the middle of its historical range, Benjamin believes that the stock as fairly valued at current levels.

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ABG Asbury Automotive
$116.50 /

+3.8 (+3.37%)

ABG Asbury Automotive
$116.50 /

+3.8 (+3.37%)

07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
ABG Asbury Automotive
$116.50 /

+3.8 (+3.37%)

Over a week ago
Earnings
Asbury Automotive sees Q3 EPS $4.00-$4.08, consensus $3.26 » 07:02
10/14/20
10/14
07:02
10/14/20
07:02
ABG

Asbury Automotive

$112.68 /

-0.69 (-0.61%)

Expects same store gross…

Expects same store gross profit up 6%-7%, and expects SG&A as a percentage of gross profit 61%-62%. "Our strong margins, disciplined expense management and the continued recovery in parts and service once again drove solid operating performance in the quarter. In addition, we were able to close on the largest acquisition in Asbury's history with the Park Place stores," said David Hult, Asbury's CEO.

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ABG Asbury Automotive
$112.68 /

-0.69 (-0.61%)

ABG Asbury Automotive
$112.68 /

-0.69 (-0.61%)

07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
ABG Asbury Automotive
$112.68 /

-0.69 (-0.61%)

Over a month ago
Conference/Events
Asbury Automotive management to meet virtually with Stephens » 04:55
09/21/20
09/21
04:55
09/21/20
04:55
ABG

Asbury Automotive

$98.40 /

-2.595 (-2.57%)

Virtual Meeting to be…

Virtual Meeting to be held on September 21 hosted by Stephens.

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ABG Asbury Automotive
$98.40 /

-2.595 (-2.57%)

ABG Asbury Automotive
$98.40 /

-2.595 (-2.57%)

07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
ABG Asbury Automotive
$98.40 /

-2.595 (-2.57%)

Conference/Events
Asbury Automotive management to meet virtually with Stephens » 11:54
09/17/20
09/17
11:54
09/17/20
11:54
ABG

Asbury Automotive

$101.82 /

-1.15 (-1.12%)

Virtual Meeting to be…

Virtual Meeting to be held on September 21 hosted by Stephens.

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ABG Asbury Automotive
$101.82 /

-1.15 (-1.12%)

ABG Asbury Automotive
$101.82 /

-1.15 (-1.12%)

07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
ABG Asbury Automotive
$101.82 /

-1.15 (-1.12%)

Hot Stocks
Asbury Automotive to acquire Park Place under 'more favorable terms' » 09:31
07/29/20
07/29
09:31
07/29/20
09:31
ABG

Asbury Automotive

$103.42 /

-5.15 (-4.74%)

Asbury Automotive Group…

Asbury Automotive Group said in its earnings release that entered into a definitive agreement to acquire Park Place Dealerships. "Our focus on gross profit combined with our cost restructuring efforts allowed us to remain pro-active and committed to long term growth by moving forward with acquiring 12 Park Place luxury franchises in the Dallas Fort Worth Market under more favorable terms than the prior agreement. This acquisition will add approximately $1.7 billion in expected annualized revenues and transform our total portfolio to 49% luxury stores. With the addition of Park Place, Asbury will be a stronger, more diversified company," CEO David Hult said.

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ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

07/29/20 Craig-Hallum
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum
07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

Downgrade
Asbury Automotive downgraded to Hold from Buy at Craig-Hallum » 09:25
07/29/20
07/29
09:25
07/29/20
09:25
ABG

Asbury Automotive

$103.42 /

-5.15 (-4.74%)

Craig-Hallum analyst Ryan…

Craig-Hallum analyst Ryan Sigdahl downgraded Asbury Automotive Group to Hold from Buy with a price target of $110, up from $100. The core business has been revalued higher and there is elevated uncertainty about the medium-term demand environment, Sigdahl tells investors in a research note. Further, the re-acquisition of Park Place limits Asbury's financial flexibility and adds a "distraction as dealers try to quickly evolve and move online," says the analyst. Sigdahl thinks Asbury Automotive has less opportunities for upward revisions relative to others in the space.

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ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
03/20/20 JPMorgan
Asbury Automotive upgraded to Neutral from Underweight at JPMorgan
ABG Asbury Automotive
$103.42 /

-5.15 (-4.74%)

Hot Stocks
Asbury Automotive reports Q2 new gross profit per vehicle up 33% to $1,924 » 07:07
07/28/20
07/28
07:07
07/28/20
07:07
ABG

Asbury Automotive

$108.57 /

+3.52 (+3.35%)

Q2 highlights: Used…

Q2 highlights: Used retail gross profit per vehicle up 10% to $1,717. 20% of used sales transacted online. SG&A as a percentage of gross profit decreased 530 basis points to 62.7%. Income from operations as percentage of revenue increased 90 basis points to 5.7%. Adjusted EPS increased 6%. Entered into a definitive agreement to acquire Park Place Dealerships, one of the country's largest and most prominent luxury dealer groups. Ended the quarter with total liquidity of $747 million and a net leverage ratio of 1.5x.

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ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
03/20/20 JPMorgan
Asbury Automotive upgraded to Neutral from Underweight at JPMorgan
ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

Earnings
Asbury Automotive reports Q2 adjusted EPS $2.52, consensus $2.49 » 07:06
07/28/20
07/28
07:06
07/28/20
07:06
ABG

Asbury Automotive

$108.57 /

+3.52 (+3.35%)

Reports Q2 revenue…

Reports Q2 revenue $1.44B, consensus $1.43B.

ShowHide Related Items >><<
ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
03/20/20 JPMorgan
Asbury Automotive upgraded to Neutral from Underweight at JPMorgan
ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

Hot Stocks
Asbury Automotive reinstates management compensation to pre-pandemic levels » 17:14
07/27/20
07/27
17:14
07/27/20
17:14
ABG

Asbury Automotive

$108.57 /

+3.52 (+3.35%)

The company states:…

The company states: "As previously disclosed, in its efforts to reduce expenses and mitigate the financial impact of the COVID-19 pandemic, Asbury Automotive Group approved a temporary reduction in pay for each of its executive officers, including a 50% base salary reduction for David Hult, the President and CEO and a 20% base salary reduction for each of Patrick Guido, Senior Vice President, Chief Financial Officer; Daniel Clara, Senior Vice President, Operations; Jed M. Milstein, Senior Vice President & Chief Human Resources Officer; and George A. Villasana, Senior Vice President, General Counsel & Secretary. On July 21, 2020, the company reinstated the salaries of each of its executive officers to their pre-reduction levels."

ShowHide Related Items >><<
ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

07/09/20 Truist
Asbury Automotive price target raised to $100 from $70 at SunTrust
07/08/20 Craig-Hallum
Asbury Automotive price target raised to $100 from $90 at Craig-Hallum
03/26/20 Craig-Hallum
Asbury Automotive upgraded to Buy from Hold at Craig-Hallum
03/20/20 JPMorgan
Asbury Automotive upgraded to Neutral from Underweight at JPMorgan
ABG Asbury Automotive
$108.57 /

+3.52 (+3.35%)

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