Asbury Automotive Group (ABG) PT Lowered to $55 at Jefferies

October 26, 2016 8:12 AM EDT
Get Alerts ABG Hot Sheet
Price: $63.90 --0%

Rating Summary:
    5 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
Trade ABG Now!
Join SI Premium – FREE

Get daily under-the-radar research with's Stealth Growth Insider Get your 2-Wk Free Trial here.

Jefferies analyst Bret Jordan reiterated a Hold rating and lowered his price target on Asbury Automotive Group (NYSE: ABG) to $55.00 (from $60.00) following the Q3 miss.

Jordan commented, "Q3 adj. EPS of $1.52 came in below our est. of $1.63 and consensus of $1.60. Weak new vehicle margins (-7%) and softer used retail margins (-1%) were offset by strong P&S margin growth (+7%). Although used volumes continue to face margin headwinds from growing off-lease supply, we note that ABG could benefit from higher CPO growth and we expect strong P&S and F&I to drive near-term EPS expansion."

The firm cut FY 2016 EPS from $6.11 to $5.93 and FY 2017 EPS from $6.62 to $6.22.

For an analyst ratings summary and ratings history on Asbury Automotive Group click here. For more ratings news on Asbury Automotive Group click here.

Shares of Asbury Automotive Group closed at $50.25 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment